CoreLogic: Mortgage Fraud Risk Up in Q2

The national mortgage application fraud risk index rose from 122 in the fourth quarter of 2016 to 132 in the first quarter of 2017, according to researchers at CoreLogic, a sequential increase of 8.2%.

The risk of fraud in mortgage applications increased 16.9% in the second quarter compared with the second quarter of 2016, according to CoreLogic’s Mortgage Fraud Report. The increase is expected.

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CoreLogic reported its Mortgage Application Fraud Risk Index found that during the second quarter of 2017, an estimated 13,404 mortgage applications, or 0.82% of all mortgage applications, contained indications of fraud, as compared with the reported 12,718, or 0.70% in the second quarter of 2016.

However, in 2017, despite the decrease in application volumes, the total number of applications with fraud is higher than last year, in fact, CoreLogic discovered 13,404 applications with indications.

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According to CoreLogic’s National Mortgage Application Fraud Risk Index, the risk of mortgage application fraud has dropped in Q2. Shares of refinance transitions increased, from 31% in Q1, to.

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CoreLogic’s Mortgage Application Fraud Risk Index, decreased by 8.9 percent nationally from its Q2 2014 level. Despite the size of that. percent compared to the second quarter of 2014 and was up.

CoreLogic reported that the National Mortgage Application Fraud Risk Index increased to 122 in the fourth quarter of 2016. The trend shows increasing risk for the year overall from an index value of 115 in the Fourth Quarter of 2015. Risks levels increased overall with the most significant increase being in purchase loans with LTVs of 80 or less.

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Interthinx’s Q2 reading is up 12 percent compared to the same period last year. Currently, the national fraud risk index is 145. A level of 100 is considered ""normal"" fraud risk. Interthinx says.