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Mortgage Fraud on the Rise

April 15, 2008 RSS Feed Print

The adjusted FraudBlogger Index—a measurement of mortgage fraud activity maintained by MortgageDaily.com—increased more than 18 percent from the fourth quarter of 2007 to the first quarter of 2008.

Based on activity by state, activity jumped the most in Florida, Ohio, and Georgia. Texas also took a turn for the worse.

Rank State Dollar Amount Adjusted Index Value Q1 2008 Adjusted Index Value Q4 2007 Adjusted Index Value Q1 2007

1. Florida $103.7 million 107 60 23

2. Ohio $109.8 million 90 30 77

3. Georgia $163.8 million 57 40 40

4. Texas $15.0 million 47 17 20

5. Pennsylvania $19.7 million 40 20 3

Full release here.

Tags:: mortgages,; fraud,; crime

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I'm surprised Nevada wasn't on the list. Here is a good example of why: http://www.lvrealty.net/news/las-vegas-real-estate-scam All that since January, with much more to come I'm sure.

Charles of NV 3:37PM April 23, 2008

The Collar

Luke Mullins is an associate editor at U.S. News, covering banking, real estate, and white-collar crime. He came to the magazine from the American Banker, a financial services daily newspaper, after a stint in the Peace Corps in West Africa and 18 months coaching baseball in the Dominican Republic. Mullins earned a master's degree in journalism from Syracuse University in 2005 and now lives in Washington, D.C., where he grew up. He has written about white-collar criminals for the American magazine, and his work was included in 20 Something Essays by 20 Something Writers: The Best New Voices of 2006, a Random House anthology that appeared on the Boston Globe's bestseller list.

Rank	State	Dollar Amount	Adjusted Index Value Q1 2008	Adjusted Index Value Q4 2007	Adjusted Index Value Q1 2007
1.	Florida	$103.7 million	107	60	23
2.	Ohio	$109.8 million	90	30	77
3.	Georgia	$163.8 million	57	40	40
4.	Texas	$15.0 million	47	17	20
5.	Pennsylvania	$19.7 million	40	20	3

Mortgage Fraud on the Rise

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