twitter linkedin
facebook google+
Search:

Mortgage News

News by Subject
Complete list of specialty news sections.

Purchase Subscription
Subscribe to MortgageDaily.com and get immediate access to all news, statistics and archives.

Mortgage Advertising
Reach mortgage executives, loan originators and other people tied to mortgage industry.

Consumer Mortgage News
Free mortgage news for prospective borrowers.

Mortgage Newsletter
Free e-mail newsletter with the latest headlines from MortgageDaily.com.

Mortgage News Reprints
Put entire MortgageDaily.com stories in your online or printed newsletter or publication.

Mortgage Feedget RSS code
Condensed MortgageDaily.com stories free on your Web site or for your RSS reader.

News Archives
Archive of MortgageDaily.com stories by month going back to 1999.

Press Releases
Reports and announcements from MortgageDaily.com.

Mortgage Statistics
Data and statistics for real estate finance.

Mortgage Directories
Directories of lenders, branch operators and mortgage service providers.

Mortgage Graphs
Directories of lenders, branch operators and mortgage service providers.

home subscribe advertise reprints e-mail help RSS about us LOG IN

Mortgage News

 

Mortgage News

HOT Topics

production

servicing

compliance

legal

fraud

secondary

jobs

appraisal

site map

www.loan-academy.com/

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.




index by statehistorical index data



PRESS RELEASE

Mortgage Fraud Index Falls to Post Crisis Low

DALLAS -- (Dec. 16, 2013) The level of prosecutorial activity on mortgage fraud cases fell to the lowest level since the financial crisis erupted. Despite diminishing activity, two states saw a surge.

Mortgage Daily's Third Quarter 2013 Mortgage Fraud Index was 655. The index reflects motions and decisions tracked by Mortgage Daily on cases where a lender was deceived into making a credit decision. Both the number of cases and the dollar amount were factored into the index.

The last time the index was this low was in Q4 2007.

There is roughly a three to five year lag between when the fraud occurred and prosecution. The recent improvement reflects better quality control by lenders and the increased use of fraud prevention services.

"As mortgage bankers have been hit with a tidal wave of repurchase demands on agency mortgages, they have taken steps to reduce risk on new originations," Mortgage Daily Founder and Publisher Sam Garcia said.

Estimated loan amounts associated with cases tracked totaled $1.1 billion in the most recent period -- the lowest since Q4 2010.

The number of cases tracked fell to 91.

Period Index Loan Amounts # Cases
Q3 2013 655 $1.1 billion 91
Q2 2013 849 $1.5 billion 123
Q3 2012 1017 $1.7 billion 141

"Based on preliminary fourth-quarter data, the Mortgage Fraud Index could fall another 12% in the next report," Mr. Garcia projected. "In addition to an improving trend, the government shutdown slowed prosecution activity."

California had the highest Q3 index, while Nevada's index was up for the fourth consecutive quarter.

Based on aggregate loan amounts involved, North Carolina was the worst thanks to the Wax House case and a case involving a manufactured housing retailer.

State
Index Amount
California 83 $155 million
Nevada 67 $227 million
North Carolina 60 $286 million
New Jersey 53 $29 million
Ohio 40 $78 million



Full Third-Quarter 2013 Mortgage Fraud Index report:
http://www.MortgageDaily.com/FraudIndex121613.asp?spcode=pr

Mortgage Fraud News:
http://www.mortgagedaily.com/MortgageFraud.asp?spcode=pr


About Mortgage Daily
Founded in 1998 by 20-year mortgage industry veteran Sam Garcia, Mortgage Daily is a leading online source of mortgage news and mortgage statistics. Mortgage Daily also publishes the Mortgage Market Index. Mortgage Litigation Index, Mortgage Employment Index and a ranking of the biggest lenders and servicers. Visit Mortgage Daily at www.MortgageDaily.com.


CONTACT:
Holly Himelright
214.521.1300
journalists request complimentary full report:
newsalert@MortgageDaily.com

Source: Mortgage Daily


Mortgage Fraud Index 655 in Q3 2013

index by statehistorical index data


Mortgage Lawsuits News | Mortgage Litigation Index
Mortgage industry lawsuit news and mortgage litigation coverage. Stories about legal settlements, judgments and mortgage class actions.


Public Relations News | PR Agencies | Mortgage Daily Press Releases
Announcements about mortgage industry public relations firms. Stories about building your brand and increasing your exposure.




Logout forgot
password?

Mortgage Fraud Statistics
Government and private data on volume of mortgage fraud activity.



Mortgage Fraud Index
Dollar and index amount by quarter and state.



Mortgage Fraud Litigation
Lawsuits and settlements invoving mortgage fraud by a lender insider. From 2007 through first-quarter 2013



Mortgage Fraud News
News stories about fraud committed against home lenders.



Mortgage Fraud Blog
Actions in mortgage fraud criminal and civil cases.



local mortgage fraud


mortgage fraud links



SUBSCRIBERS: Edit Subscription | Subscription Help | or call 214.521.1300

Subscribe Contact Us Site Map

Copyright © 2017 Mortgage Daily, D a l l a s
Subsribers Only:

AMC directory

ARM indexes

mortgage company directory

mortgage regulations

net branch directory

p r i c i n g engine directory

wholesale lender directory

More Mortgage News Resources (full site map):

advertising news

appraisal news

bank news

biggest lenders

commercial mortgage news

corporate mortgage news

credit news

FHA news

financial regulation news

foreclosure news

free mortgage news

GSE news

jumbo mortgage news

interest rates

loan modification news

loan originator survey

LOS Newsletter

MBS

mortgage associations

mortgage-backed securities

mortgage books

mortgage brokers

mortgage compliance

mortgage conferences

mortgage directories

mortgage education

mortgage employment

mortgage employment index

mortgage executives

mortgage fraud

mortgage fraud blog

mortgage fraud local news

Mortgage Fraud Index

Mortgage Graveyard

mortgage insurance news

mortgage lawsuits

mortgage leads

mortgage lender ranking

mortgage licenses

mortgage litigation

Mortgage Litigation Index

Mortgage Market Index

mortgage mergers

mortgage news

mortgage politics

mortgage press releases

mortgage production

mortgage public relations

mortgage rates

mortgage servicing

mortgage statistics

mortgage technology

mortgage video

mortgage Webinars

net branch

net branch directory

nonprime news

origination news

originator tools

real estate news

refinance news

reverse mortgage news

sales blog

secondary marketing

social media

servicing news

subprime news

wholesale lenders

wireless mortgage news