Magazine article Mortgage Banking

The Fraud File

Magazine article Mortgage Banking

The Fraud File

Article excerpt

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. The Interthinx Fraud Risk Indexes consist of the Property Valuation Fraud Risk Index; the Identity Fraud Risk Index; the Occupancy Fraud Risk Index: the Employment/Income Fraud Risk Index; and the Overall Mortgage Fraud Risk Index, which is calculated as the average of the four type-specific indexes. All these indexes have been calibrated so that the national indexes based on all loans in first-quarter 2012 equal 100.

Interthinx recognizes the adaptations that fraudsters make in a changing market, and proactively strives to identify and report the latest patterns it finds in the fraud community. In an effort to capture these changes in fraud activity, Interthinx has made major changes and enhancements to the Mortgage Fraud Risk Index, beginning with those published in this issue of Mortgage Banking. Due to the comprehensive nature of these enhancements, index values published in prior issues of the magazine may not be directly comparable to index values published in July 2013 or thereafter. More information is available at

Mortgage Fraud Risk Index for April

2013--TOP 5 MSAs

Metropolitan Statistical Area             Mortgage  % Change  % Change
(MSA)                                   Fraud Risk     Since     Since
                                            Index,     April     March
                                        April 2013      2012      2013

1  STOCKTON, CA                                131     11.0%     26.0%

2  S ACRAMENTO-ARDEN-ARCADE-ROSEVILLE,         131      4.8%     -7.1%

3  CAPE CORAL-FORT MYERS, FL                   131     13. … 
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