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Fraud

Mortgage fraud risk drops 9%; investor loans a concern  

Fraud, Housing markets, Mortgage Fraud, Underwriting /

The risk for mortgage fraud in loan applications decreased 9% on both a quarter-to-quarter and annual basis but problems remain with submissions for both investor and multifamily properties, Cotality said. Processing Content The first quarter ended with approximately 1-in-129 mortgage applications having some indicator of fraud, putting the Cotality National Mortgage Fraud Application Risk Index […]

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First deed theft office opened by NYC Mayor Mamdani

Fraud, Politics and policy, Regulation and compliance, Title insurance /

New York City Mayor Zohran Mamdani is ramping up efforts to protect homeowners in creating the city’s first office focused solely on deed theft.  Processing Content The Office of Deed Theft Prevention, which will be led by local attorney Peter White, will flag suspicious real estate filings, improve data sharing across agencies and conduct public

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A third of states lack deed fraud laws, report finds

Fraud, Law and legal issues, Servicing, Title insurance, Underwriting /

Approximately one-third of states do not have any deed-fraud specific statutes covering residential property titles, a new quarterly ranking from EquityProtect noted. Processing Content The EquityProtect Property Protection Scorecard classifies the 50 states, along with the District of Columbia, into five tiers, ranging from major laws acted through minimal or no action. Seven states have

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Mortgage fraud vulnerabilities dip to 43.7% in Q1

Customer data, Data privacy, Fraud, LOAN PRODUCTS, Originations, Secondary markets /

While the share of mortgage files with errors that pose wire and title fraud risks is lower compared with prior quarters, the mortgage industry is still creating the same vulnerabilities, the latest FundingShield Fraud Analytics Report found. Processing Content Total issues found during the first quarter were down to 43.7% for the three-month period, the

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FBI: Real estate cyberfraud rises with more AI, crypto scams

Artificial Intelligence, Cryptocurrency, Cyber security, Data breaches, Fraud, Mortgages /

Losses from real estate cybercrimes soared last year as criminals utilized more artificial intelligence and cryptocurrency scams, the Federal Bureau of Investigation reported. Processing Content The industry’s cybercrime losses topped $275 million in 2025, a 59% increase from approximately $174 million in real estate-related losses in 2024, according to the bureau’s Internet Crime Complaint Center.

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Finance of America faces early data breach class action

Cyber security, Data breaches, Fraud, Law and legal issues /

A Finance of America customer has fired off a data breach class action lawsuit against the company for a hack that allegedly occurred two weeks ago. Processing Content Melanie Place filed the negligence complaint against the lender and servicer last week in a Texas federal court, based on a limited report of an incident. A

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Pulte makes new fraud allegations against New York AG James

FHFA, Fraud /

Federal Housing Finance Agency Director Bill Pulte has sent letters to the Department of Justice encouraging prosecutors to open new fraud investigations into New York Attorney General Letitia James related to real estate.  Processing Content Pulte wrote separately to the US attorneys for the Southern District of Florida and Northern District of Illinois in letters

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TransUnion launches new fraud and personal safety check app

Fraud, Mortgage technology, REALTORS & HOMEBUILDERS, TransUnion /

TransUnion is launching a new app set to help Realtors confirm property ownership to prevent fraud, conduct personal safety checks and drive more effective prospecting. Processing Content TruLookup for Real Estate is a purpose-built solution that reduces the need for real estate professionals to analyze multiple databases or download numerous apps when researching potential clients

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Synthetic IDs, false docs play role in $6M home lending scam

Fraud, Industry News, Law and legal issues, Title insurance /

An elaborate scheme involving 11 perpetrators, stolen identities and title fraud has resulted in $6 million in lender losses and criminal charges against the alleged scammers, according to new court documents.   Processing Content Federal prosecutors arrested the defendants, who were arraigned in Southern California and Florida courts late last week, following a grand jury indictment

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