Appraisal Fraud Dropping
A new study by Interthinx revealed that the risk of fraudulent appraisals has decreased significantly over the last year, however, the risk of mortgage fraud overall remains the same.
MortgageDaily.com reported on the study’s results for Q1 2011 Mortgage Fraud Risk Report, which showed a 5 percent decrease over the last year. The risk of appraisal fraud was down 12 percent.
Nevada topped the index with the highest incidence of mortgage fraud, followed by Arizona, then Florida and Hawaii, respectively. California took the fifth spot.