Mortgage fraud

Mortgage application defect risk is down from a year ago, but Hurricane Florence will likely tear through results in affected areas in the coming months.

There are several reasons, including the fact that many prospective borrowers are finding it harder to qualify for a mortgage and obscuring the truth as a result.

A man from Hialeah, Fla., will face sentencing in November after pleading guilty to conspiracy in an $8 million mortgage and tax-refund scheme.

Future reductions in loan application defect risk are likely because of mortgage lenders' fintech investments, even as the purchase origination share grows, said First American Financial.

A 75-year-old Florida real estate developer was sentenced to six months in prison after admitting he lied to banks to keep money flowing so he wasn't forced to scuttle an oceanfront hotel and condominium in Vero Beach.

Wire fraud committed through business email compromise schemes has emerged as a serious threat to mortgage and real estate transactions. Defending against these scams requires a comprehensive strategy that includes technology, training and nonstop vigilance.

Fraudsters can track a home sale from the moment it goes on the market until the deal closes, make these transactions a ripe target for business email compromise scams that seek to intercept wire transfers and steal from legitimate participants in a deal.

Post-crisis measures made it harder for rogue borrowers and employees to commit fraud. Now, a new threat has emerged from scammers posing as title agents, real estate professionals and more.

A mortgage fraud scheme involving fake employment records, initially thought to be contained to Southern California, is occurring statewide, Fannie Mae said in a new fraud alert.

Loan defect risk rose in only three states and a handful of metropolitan regions in June thanks to the continuing spread of digital mortgage initiatives that improve data quality.