Industry NewsMortgage

MARI: Mortgage fraud at ‘all-time high’

Industry group says reports up 26% in 2008
Published on Mar 17, 2009

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by CareyBot

Reported incidents of mortgage fraud rose 26 percent from 2007 to 2008, according to a new report by the Mortgage Asset Research Institute, or MARI.

Application fraud was the most commonly reported type of fraud, representing 61 percent of all cases. Fraud related to tax returns and financial statements was up 60 percent from 2007, representing about one in four reported cases.

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