Tag Archives: California ranks No. 1 for mortgage fraud

Mortgage fraud activity slowed overall in the third quarter, but California ranks first in home loan fraud, with the state seeing as much as $204.2 million in losses on deceptive mortgage activity. That’s according to a new report from MortgageDaily, which found that lenders victimized by fraud faced inflated appraisals and fraudulent documentation. California was followed by New York, which experienced $199.6 million in losses from nefarious activities in mortgage finance. New York was followed by Florida, South Carolina and Minnesota in terms of fraudulent activity. The total loss value […]