Chicago metro remains a 'mortgage fraud hotspot'

Year-over-year decreases in fraud risk do little to impact metro's nationwide ranking
  • A noticeable drop in mortgage fraud risk did little to impact the metro's nationwide ranking
  • The volume of undisclosed mortgage debt fraud within the metro is likely the main reason for its ranking
  • Illinois is amongst the top 10 riskiest states for application fraud

The Chicago-Naperville-Elgin metro saw a 16.3 percent year-over-year drop in mortgage fraud risk during the second quarter, along with a 6 percent quarter-over-quarter dip. Despite these decreases, the metro is still considered a “fraud risk hotspot” and ranks as the 14th riskiest for application fraud nationally, according to a recent CoreLogic report.