Magazine article Mortgage Banking

The Fraud File

Magazine article Mortgage Banking

The Fraud File

Article excerpt

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

Rank  Metropolitan Statistical   Mortgage     %     % Change Since 1
        Area (MSA) (ranked by      Fraud    Change      Q2 2011
            highest risk)          Risk     Since
                                 Index, Q3    Q3
                                   2011      2010

1      Stockton, CA                303      23.1%           7.4%

2      Modesto, CA                 299      16.1%           11.1%

3      Bakersfield, CA             277      40.5%           21.9%

4      Las Vegas-Paradise, NV      274       0.3%           10.0%

5      Phoenix-Mesa-Scottsdale,    269   1   6.4%            6.2%
       AZ

6      Riverside-San               260      -2.9%            1.0%
       Bernardino-Ontario, CA

7      Vallejo-Fairfield,  CA      253      -2.1%           15.3%

8      Miami-Fort                  243      19.1%            1.9%
       Lauderdale-Pompano Beach,
       FL

9      Cape Coral-Fort Myers,      234   -   4.5%           -4.4%
       FL

10     Reno-Sparks, NV             231      -3.0%            1.0%
       United States               143      -0.1%            0.9%

Still elevated at 143 (n=100), the national Mortgage Fraud Risk
Index is also down 0.1 percent from a year ago and up 0.9
percent from the last quarter.

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

Rank   ZIP Code   City/State          Mortgage Fraud Risk
                                         Index Q3 2011

1        93304  Bakersfield, CA             535

2        19030  Fairless Hills, PA          501

3        89103  Las Vegas, NV               458

4        33169  Miami, FL                   457

5        92703  Santa Ana, CA               445

5        93292  Visalia, CA                 445

7        91708  Chino, CA                   432

8        94589  Vallejo, CA                 431

9        92530  Lake Elsinore, CA           423

10       95351  Modesto, CA                 421

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. … 
Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.