Mortgage Application Fraud Highest in Florida

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The owner of a Florida mortgage company was sentenced today to serve. to insufficient income, high levels of debts, and outstanding collections.. and submitted false and fraudulent fha mortgage loan applications and.

Ex-banker charged with fraud in mortgage scheme. Crown Bank, allegedly filed a fraudulent mortgage application to obtain nearly $400,000 from BofA.. still R-G Crown's top residential lending executive, according to prosecutors.. Joe Nunziata, a veteran Central florida mortgage lender, said he was.

internet and other technologies that make the loan application process.. florida had the nation's highest rate of mortgage fraud in 2006 and 2007.66 In 2008,

Another sand state, Florida, is the first. Homebuyer occupancy misrepresentation is now the most common form of mortgage application fraud in.

In fact, mortgage application fraud. the most overall mortgage fraud. To rank the states, the LexisNexis Mortgage Fraud Index 1 (MFI) is utilized, which calculates each state’s fraud problem. For.

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The report states that Florida continues to be the riskiest state for mortgage application fraud. Specifically, CoreLogic reports that high-LTV purchase loans are the segment showing the greatest.

The company’s National Mortgage Application Fraud Risk Index increased only slightly in the first quarter of 2019 from the end of 2018 and is at 152. This is a 6 percent increase year over year from 144 in the first quarter of last year. Florida remains the fraud capital; eight of the top 15 metro areas on the fraud index are in the state.

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The company’s National Mortgage Application Fraud Risk Index increased only slightly in the first quarter of 2019 from the end of 2018 and is at 152. This is a 6 percent increase year over year from 144 in the first quarter of last year. Florida remains the fraud capital; eight of the top 15 metro areas on the fraud index are in the state.

Mortgage fraud occurs when someone lies, confuses, or intentionally omits important information during the mortgage application and approval process. mortgage fraud is possible through a single act by either a lender or a borrower. A wide range of activity can constitute mortgage fraud, and state laws that punish the crime differ significantly.