The CoreLogic national mortgage application fraud risk index (index) decreased significantly, from 152 in Q1 2019 to 132 in Q2 2019. The year-over-year trend is down 11.4 percent from Q2 2018 (at 149).
According CoreLogic, the continued shift from a refinance-heavy market to a predominantly purchase market is a key factor in the application fraud risk increase. From Q2 2017 to Q2 2018, the proportion of purchase transactions within the consortium increased from 66 percent to 72 percent of applications, the report showed.
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According to the report and the CoreLogic Mortgage Application Fraud Risk Index, mortgage risk is up 12.4 percent year over year as of Q2 2018. The report found that in Q2 2018, around one in 109.
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The report shows a 12.4 percent year-over-year increase in fraud risk at the end of the second quarter, as measured by the CoreLogic Mortgage Application Fraud Risk Index.
The risk of a borrower overstating their income, misrepresenting how they intend to use a property, or otherwise committing mortgage fraud was up considerably in the second quarter of 2018, according.
According to CoreLogic’s National Mortgage Application Fraud Risk Index, fraud risks on mortgage applications decreased by 11.4% year over year last quarter. At the same time, s hares of refinance transitions increased from 31% in Q1 to 35.5% in Q2. The risk levels from refinance segments decreased anywhere from 12% to 30%, according to CoreLogic.
CoreLogic (NYSE: CLGX), Irvine, CA, a leading residential property information, analytics and services provider, on Wednesday, Sept. 25, 2013 released its mortgage fraud report showing that fraud risk among U.S. mortgage applications declined 5.6 percent year over year in the second quarter of 2013.
about the core mortgage risk Monitor contact contact Dr. Mark Fleming, First American CoreLogic at m firstname.lastname@example.org. Executive Summary Relative to the base period of Q1 2002, the Q2 2007 Core Mortgage Risk Index (exhibit 2) is holding relatively steady, posting a small, 6% increase, bringing the index back to the base period level.
· The risk of mortgage fraud in the second quarter was 12.4 percent higher from one year earlier, according to the latest data from the CoreLogic Mortgage Application Fraud Risk index. corelogic: mortgage Fraud Risk Up in Q2
According to CoreLogic’s National Mortgage Application Fraud Risk Index, fraud risks on mortgage applications. metro had the biggest increase in fraud reports, up 61% in Q2.