There was a big jump in the incidence of mortgage
fraud over the course of the last year. CoreLogic’s annual report for the second
quarter of 2021 reports that one in 120 mortgage applications (0.83 percent) submitted
during that period showed indications of at least one of six types of fraud.
This is up 37.2 percent from the prior 12-month period. Fraud was most prevalent in purchase mortgage
applications, one occurrence in every 90 applications, and a 40 percent year-over-year
increase. Fraud was indicated in one in every 169 refinance applications, up
19.4 percent on an annual basis.

 

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