Mortgage Fraud on the Rise Again in the U.S.

As the U.S. Department of Housing and Urban Development (HUD) regional administrator, I have watched the housing market rise and fall. studies show that mortgage fraud artists disproportionately.

This happens when you don’t realize that your escrow payments are going to rise. When you make your next payment — at the old rate — it won’t be enough to cover the escrow plus the mortgage payment.

Mortgage Fraud on the Rise. Specifically, this year’s second quarter showed a 45 percent increase in the number of reported mortgage fraud incidents relative to the same period in the prior year. This follows a first quarter increase of 42 percent.

Mortgage Fraud on the Rise Again! Posted on February 21, 2018 by secureinsight First American Data Solutions recently released a report indicating that mortgage fraud has increased almost 6% in the first quarter.

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Mortgage. again because the rates tend to follow the yield on the Treasury’s 10-year note, which keeps hitting new.

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The Growth of Mortgage Fraud. Mortgage fraud is on the rise for multiple reasons: rising demand for Homeownership: U.S. homeownership rates hit 64.2%, according the the U.S. Census data released in January, 2018. Homeownership has been on the rise since 2016, when it hit a 50-year low of 62.9%.

A 41-year-old takoma park man was sentenced to five years in prison followed by five years of supervised release for conspiring to commit wire fraud. residential mortgage fraud schemes. Mokorya.

Brazilian Arnaldo Prado, shown with his wife Giulia in 2012, was held for six months in Miami on mortgage fraud. and on and on.” The U.S. attorney’s office declined to comment on Friday. The.

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Mortgage fraud was up year-over-year in the second quarter, with Florida remaining the state with the highest risk of fraud, according to new data from CoreLogic. More than 12,000 mortgage.