Silent shifts in mortgage fraud raise concerns

Mortgage fraud cases haven't surged dramatically, but subtle shifts in tactics and technologies are reshaping the industry. - Under the umbrella of purchase fraud, transaction fraud risk, such as undisclosed agreements between the parties and down payment fraud, is making waves. - While New York has long been the top state for fraud risk, California ranks in third-place, but the Golden State did show a double-digit increase in risk from the prior year. -Fraud can delay transactions, increase costs, and even prevent first-time buyers from securing deals, eroding trust in the market. In this episode 2:35 – An overview of fraud risk in the U.S. 5:22 – How has the rate of occupancy fraud changed over the past year 8:23 – Why is mortgage fraud so difficult to detect and how can it be mitigated? 10:35 – Has automation opened the door to new mortgage fraud vulnerabilities? 13:44 – How can big data and advanced analytics help with fraud detection? 17:53 – Erika Stanley goes over the numbers in property market in The Sip. 19:29 – How can regulation help with fraud detection and mitigation?