Paul Sakuma, Associated Press
Potential mortgage fraud nationwide rose in the third quarter of last year due to significant increases in five metropolitan areas, according to Business Insider.
“This spike in potential fraud is troubling, coming at the same time the mortgage industry is beginning to turn the corner,” said Rob Bazzani, president of Kroll Factual Data, to Business Insider.
Flint, Mich., had a potential mortgage fraud increase of 50.32 percent on a quarterly basis. This was the largest of any metro area by far, in areas where 1,000 or more applications were processed.
Columbia, Mo., was the next closest increase at 29.77 percent. Close behind was Lancaster, Pa., with a jump of 28.83 percent. The other major increases include Tacoma, Wash., at 25.68 percent and Santa Fe, N.M., with 24.24 percent.
- 5 reasons why Utah is a great place to live
- Why starting a garden doesn't save you money
- 11 best—and worst—state tax systems
- How much of your paycheck do you take home?
- Why one inner-city kid didn't sell drugs to...
- Who should be listed on your car insurance?
- How much America wants to be taxed
- Utah has some of the rudest drivers,...