Buying a home is one of the most exciting and scary times in a person’s life but it is also very complicated. There are a number of parties to this transaction and they read like a movie credit in order of appearance:
Interthinx has released its annual Mortgage Fraud Risk Report , which highlights some of the most significant mortgage fraud risk trends based on analysis of loan applications processed in 2011 by the Interthinx FraudGUARD ® system. According to the annual report, the Employment/Income Fraud Risk Index rose 14 percent during 2011 and has been on an upward trend for more than two years for a total increase of more than 45 percent. The Employment/Income Fraud Risk Index is particularly high for investor loans with an index of 310, which is almost three times the overall index value of 111 and is highest for high-value properties.
More detailed points highlighted by Interthinx analysts include the following: Continue reading Employment/Income Fraud Risk Index highest for investor loans and high value properties