RMQA21 Fraud Update: ‘Be Alert For Red Flags’

WASHINGTON, D.C.–The mortgage industry needs to be prepared for increased fraud activity as the pandemic and the recession fade, law enforcement, legal and mortgage servicing analysts said at the recent Mortgage Bankers Association’s Risk Management, QA and Fraud Prevention Forum 2021.

‘Sudden Uptick’ in Fraud Risk Raises Eyebrows

First American Financial Corp., Santa Ana, Calif., said its monthly Loan Application Defect Index showed a jump in mortgage fraud risk for purchase transactions, the first such increase since last March.