Bankers Group Reports on Mortgage Fraud

March 17, 2008 | Filed Under Real Estate News, Mortgage and Finance 

Florida leads the nation in reported cases of mortgage fraud for the second consecutive year and Nevada climbed to the number two ranking, according to the Mortgage Asset Research Institute’s Tenth Periodic Mortgage Fraud Case Report to the Mortgage Bankers Association. Other states in the top 10 are Michigan, California, Utah, Georgia, Virginia, Illinois, New York and Minnesota.

The most common types of fraud involved false claims of employment history and income. The study also found that 2007 had the lowest volume of mortgage originations since 2002 and the highest number of delinquencies and foreclosures.

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