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Mortgage Fraud On The Rise In Missouri

While over the past few years we have seen a strong real estate market and easing mortgage loan guidelines, which is all good, unfortunately, mortgage fraud has been on the rise, according to a report just released by CoreLogic.  According to their 2018 Mortgage Fraud Report, the CoreLogic® National Mortgage Application Fraud Risk Index was 151 for the fourth quarter of 2018, up 10% from a year ago when the index was 138.

According to the report, Missouri was one of the top five states for increases in fraud risk for each of the past two years, moving from number 38 in the 2nd quarter of 2016 up to 15 for the 4th quarter of 2018.  The top risk factor behind Missouri’s increased mortgage fraud risk was income fraud.

Fraud Type Indicators for States with Highest Year-Over-Year Risk Growth

Fraud Type Indicators for States with Highest Year-Over-Year Risk Growth

source: CoreLogic

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