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Forward on Reverse: Understanding Reverse-Speaking, Part Two

National Mortgage Professional
Jan 14, 2003

Annual MARI mortgage fraud report released by MBAMortgagePress.comMortgage fraud The Mortgage Asset Research Institute Inc. (MARI) has delivered its seventh annual fraud report to the Mortgage Bankers Association. The report, "Seventh Periodic Mortgage Fraud Case Report to Mortgage Bankers Association," examines the current composition of residential mortgage fraud and misrepresentation in the United States. MARI provides MBA members with the annual reports, as well as discounted fees to participate in MARI's database, the Mortgage Industry Data Exchange (MIDEX). The MIDEX system allows mortgage lenders, insurers and agencies to exchange information about companies and professionals that have been involved in loan transactions containing alleged fraud or material misrepresentations. The report includes the following highlights: †During the past four years, there has been a shift in the states that have the greatest problems. For the second year in a row, Georgia and South Carolina have had very high rates of reported fraud. †Florida continues to have a high fraud score, but is no longer entrenched in its historical second-place position on the national list of hot spots. †Reported fraud in California has dropped significantly, but many of its problems are likely being masked by high real estate appreciation. For more information, visit www.mortgagebankers.org.
Published
Jan 14, 2003
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