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Mortgage Fraud News | Fraud Statistics | Fraud Index | Fraud Blog
Mortgage broker, originator and banker criminal cases. Real estate flipping and appraisal fraud. Mortgage fraud prevention, studies and analysis.

Minnesota Emerges as Mortgage Fraud Hot Spot

Second Quarter 2011 Index 1261

Sept. 12, 2011

By staff

Minnesota has emerged as a problem area for mortgage fraud and helped lift national activity from the first quarter. But a national improvement from a year earlier was attributable to another three states.

The Second-Quarter 2011 Mortgage Fraud Index from came in at 1261, an increase of 27 percent from the first quarter.

The index is based on criminal and civil cases where defendants are accused of trying to deceive real estate lenders into making credit decisions using fraudulent documentation or property appraisals with false values. Case tracking is maintained by the mortgage fraud blog

Index by Quarter
Period Index Amount # Cases
Q2 2011 1261 $1,587,573,586 194
Q1 2011 990 $1,247,615,165 150
Q2 2010 1699 $2,248,657,052 266

Oregon, Utah, Iowa and Colorado saw the biggest quarter-over-quarter increases in their indices.

The U.S. index fell more than a quarter from a year earlier. Oregon had a 78 percent decline, the most significant, while Utah had the biggest jump from a year earlier.

The Minnesota Mortgage Fraud Index, which rose 15 percent from the same period last year, was at its highest level during any quarter based on more than five years of data.

Top States by Index
Florida 117
Minnesota 107
Ohio 103
California 93
Pennsylvania 87

The dollar volume of U.S. cases tracked worked out to $340 million more than what was tracked the first-three months of 2011. A big chunk of this growth came from Minnesota, which saw about $161 million more in cases.

Compared to the second quarter of last year, dollar volume was nationally down around $661 million. California saw a $300 million year-over-year improvement, while Michigan was down $218 and Pennsylvania fell $198 million.

The annual improvement might have been better had it not been for states like North Carolina, where volume rose by $67 million, and New York, which had around $72 million more in cases.

Top States by Total Amount
Minnesota $184,715,000
Florida $184,009,434
Arizona $162,588,400
New York $152,487,775
California $135,719,882

Mortgage Fraud Activity
Second-Quarter 2011

Q2 2011
Index Level
Q2 2011
National - Total 1261 $1,587,573,586
Alaska 0 $0
Alabama 7 $2,000,000
Arkansas 0 $0
Arizona 63 $162,588,400
California 93 $135,719,882
Colorado 17 $3,411,796
Connecticut 23 $18,630,000
Delaware 3 $1,000,000
Florida 117 $184,009,434
Georgia 37 $123,945,564
Hawaii 0 $0
Iowa 17 $5,780,000
Idaho 3 $1,000,000
Illinois 23 $19,790,000
Indiana 13 $4,504,470
Kansas 7 $1,142,768
Kentucky 7 $2,900,000
Louisiana 7 $2,300,000
Massachusetts 50 $49,835,000
Maryland 0 $0
Michigan 30 $23,313,100
Minnesota 107 $184,715,000
Missouri 20 $16,589,789
Mississippi 13 $14,800,000
Montana 0 $0
Nebraska 0 $0
Nevada 13 $3,544,914
New Hampshire 7 $5,000,000
New Jersey 77 $58,895,040
New Mexico 7 $5,500,000
New York 80 $152,487,775
North Carolina 43 $132,457,000
Ohio 103 $60,948,902
Oklahoma 3 $774,000
Oregon 20 $35,000,000
Pennsylvania 87 $65,431,702
Rhode Island 7 $3,500,000
South Carolina 27 $16,540,150
South Dakota 0 $0
Tennessee 7 $2,102,900
Texas 33 $35,466,880
Utah 40 $23,750,950
Vermont 0 $0
Virginia 20 $5,927,670
Washington 17 $15,370,500
Washington, D.C. 0 $0
West Virginia 13 $6,900,000
Wisconsin 0 $0
National - Total 1261 $1,587,573,586

Prior Fraud Index Data

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  • The Index was created by and utilizes mortgage fraud data tracked by

  • The index reflects active criminal and civil mortgage fraud cases.

  • Cases involving larger dollar amounts are given greater value in the index.

  • Excludes foreclosure fraud and investor fraud.

  • If there were no fraud activity tracked during a given quarter, the index would be zero.

  • A minimum of $100,000 was used for all cases tracked including when no amount was available.

  • The national total index is an aggregate of all state data.

  • When no data was available on the dollar amount involved, estimates were based on available data such as the number of properties involved, losses to lenders or the number of charges filed.

Second Quarter 2011 Index by quarter
Second Quarter 2011 Index by dollar amount

Current and Historical Fraud Index Data

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