Potential mortgage fraud nationwide rose in the third quarter of last year due to significant increases in five metropolitan areas, according to Business Insider.Comment on this story
“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.