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
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
†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
For more information, visit www.mortgagebankers.org.