The perpetrators conspired to manipulate the short-sale process following the Great Financial Crisis, allowing them to renovate and flip homes for well above the original selling price and leading to millions in losses for lenders and government insurers.

Critical defects increased for the second consecutive three-month period, with appraisal-related errors nearly doubling, Aces Quality Management said.

The Treasury's financial crimes arm alerted banks to the dangers of AI-powered fraud, urging close monitoring and swift reporting of any suspicious activity.

AI-backed detection tools contributed to a significant spike in the dollar amount potentially saved from fraud this year, according to the Treasury Department.

The settlement pending a judge's approval would end the lawsuit over a hack last December.

The perpetrator faces up to 150 years in prison, with sentencing scheduled for December.

The Bay Area lender said an unauthorized party was in its servers for over five weeks this spring.

As home prices rise, leading to larger transaction amounts, Certifid doubled the amount of wire fraud insurance coverage provided for transfers it vets.

The scam involves unlicensed lenders offering phony warehouse lines of credit that have led to monetary losses in the thousands and the compromise of confidential borrower information.

Following a breach at National Public Data, the National Consumer Law Center recommended consumers consider a credit freeze, but that could also hinder a mortgage applicant's home purchase depending on where they are in the process, an expert says.

Rule changes would come after a fraud investigation uncovered falsified numbers at a leading finance firm, according to the Wall Street Journal.

The litigation involved more than 100 loans, many insured by the Federal Housing Administration, with volume totaling approximately $55 million.

In a new survey of bank executives from IntraFi, 90% of respondents said instances of check fraud have increased in recent years and half want law enforcement to make check fraud a bigger priority to stop criminals from stealing checks in the mail.

Not every audit will save a dollar, but paying for check-ups will stem further expenses, industry veterans say.

Issues or errors in closing-protection letters appeared in over 45% of loans, a record-high share, according to Fundingshield.

The new law, which went into effect on July 19, also has provisions that deal with heirs property, an issue that clouds ownership.

Banks reported that they have far more protections against fraud in digital channels versus branches or call centers, according to survey research.

Mortgage companies and third-parties they partner with represent potential prime targets for certain criminal schemes due to the frequent transfer of large sums of money, cybersecurity experts say.

The cloud storage provider has notified 165 potentially exposed businesses.

The overall critical defect rate trickled down to 1.53% in the fourth quarter of last year, according to Aces Quality Management.