Magazine article Mortgage Banking

The Fraud File

Magazine article Mortgage Banking

The Fraud File

Article excerpt

By Interthinx [TM]

MORTGAGE FRAUD RISK INDEX FOR SECOND-QUARTER 2011--TOP 10 MSAs

Rank  Metropolitan Statistical   Mortgage Fraud    %       %
        Area (MSA) (ranked by    Risk Index, Q2  Change  Change
            highest risk)             2011       Since   Since
                                                   Q2      Ql
                                                  2010    2011

1     Stockton, CA                          282    1.4%   19.0%

2     Modesto, CA                           269   -5.5%    8.2%

3     Riverside-San                         257   -1.5%   11.8%
      Bernardino-Ontario, CA

4     Phoenix-Mesa-Scottsdale,              253   -2.3%   14.0%
      AZ

5     Las Vegas-Paradise, NV                249   -1.1%    2.5%

6     Cape Coral-Fort Myers, FL             245   -8.0%    6.8%

7     Miami-Fort                            238    7.3%   -2.8%
      Lauderdale-Pompano Beach,
      FL

8     Reno-Sparks, NV                       229    9.0%   13.9%

9     Bakersfield, CA                       228   -0.2%    3.4%

10    Salinas, CA                           225    3.3%    3.3%
      United States                         142   -2.3%   -1.0%

Still elevated at 142 (n=100), the national Mortgage Fraud Risk
Index is also down 2 percent from a year ago and down 1 percent
from the last quarter.

ZIP CODES WITH THE HIGHEST FRAUD RISK IN SECOND-QUARTER 2011

Rank  ZIP Code     City/State     Mortgage Fraud Risk Index Q2 2011

1        33193  Miami, FL                                       467

2        19149  Philadelphia, PA                                455

3        85305  Glendale, AZ                                    433

4        90061  Los Angeles, CA                                 433

5        33023  Hollywood, FL                                   424

6        85210  Mesa, AZ                                        418

7        34117  Naples, FL                                      418

8        33971  Lehigh Acres, FL                                416

9        89107  Las Vegas, NV                                   409
10       33032  Homestead, FL                                   407

Interthinx's Fraud Risk Indexes are calculated based on the frequency
with which indicators of fraudulent activity are detected in mortgage
applications processed by the Interthinx FraudGUARD [R] system, a
loan-level fraud-detection tool available to lenders and investors. … 
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