|Ability to Repay Rule Reduces Mortgage Fraud
Home lenders are facing less risk of mortgage fraud, and one factor contributing to the improvement is the Ability to Repay Rule.
Appraisal Fraud On the Decline
When it comes to mortgage fraud, inflated appraisals have become less of an issue thanks to appraisal regulation. But collusion among buyers and sellers is worsening.
Share of Fraudulent Mortgage Applications Rises
As the volume of loan originations has diminished, so has the number of loan applications containing mortgage fraud. But the share of fraudulent applications has increased. Although states like Florida experienced a substantial increase in fraud risk, other states -- including the Grand Canyon State -- have seen a big improvement.
Digital Risk Hopes New Products Offset Mortgage Loss
The outgoing chief executive officer of Digital Risk LLC acknowledged that demand has waned for the mortgage service provider's products and said a new business line might revive revenues.
Dozens Laid Off at Digital Risk
Dozens of Digital Risk LLC employees in the Sunshine State are being let go as the company grapples with less business.
Risk of Identity Mortgage Fraud Intensifies
There was no quarterly change in the risk of mortgage fraud across the country. But likely instances of perpetrators hiding their identity worsened.
New Jersey Mortgage Fraud Cases Fit For a Movie
Three mortgage fraud cases out of New Jersey -- one involving a former mayor, another involving a mob accountant and a third involving a reality TV star -- are the stuff of movies.
Indictments Handed Down in Massive FHA Fraud Case
The owner of a mortgage company -- along with loan originators, other employees and real estate developers -- have been indicted in a huge case involving government-insured mortgages.
Fannie Requiring Seller-Servicer Employee Screening
Prospective employees of companies that are approved Fannie Mae sellers or servicers will need to be screened for exclusion from a regulatory list.