DataMarkets & Economy

Mortgage fraud risk high across Florida, NYC and SoCal, report says

CoreLogic Mortgage Application Fraud Risk Index list dominated by sunny climates
  • Miami-Fort Lauderdale-West Palm Beach saw a 3 percent quarterly decrease of mortgage fraud risk, but the metro still ranked as the most risky in the nation.
  • McAllen-Edinburg-Mission in Texas saw the biggest quarterly increase in mortgage fraud risk, at 33 percent in the second quarter of the year.
  • The largest decrease in mortgage fraud risk was reported in Deltona-Daytona Beach-Ormond Beach, Florida, where risk fell 13 percent.

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Mortgage application fraud risk in the second quarter of 2016 is considered to be fairly stable, according to a new report released by CoreLogic. Measuring the top metros with the highest mortgage fraud risk, the data company released its quarterly insights known as the CoreLogic Mortgage Application Fraud Risk Index (FRI). According to the report, Florida remains a risky state, with several metro areas reporting above national-level fraud risk. Miami took the no. 1 spot with a second quarter FRI of 278, although that represents a 3 percent drop over the previous quarter. The top three Core Based Statistical Areas (CBSAs) reported were in Florida, with Lakeland-Winter Haven and Tampa-St. Petersburg-Clearwater following Miami. Lakeland saw a decent quarterly improvement of 8 percent, while Tampa decreased the same percentage amount. Jacksonville, Deltona-Daytona Beach-Ormond Beach, Orlando-Kissimmee-Sanford, Palm Bay-Melbourne-Titusville, Cape Coral-Fort Myers and North Port...