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Las Vegas Real Estate Blog

Your Las Vegas real estate information source. The latest news, new construction, scandals, additions to the strip and other Las Vegas and related information.

Monday, August 23, 2010

Mortgage Fraud on the Rise

A recent article in the Wall Street Journal stated that despite the new regulations, mortgage fraud is on the rise. The article sited findings by CoreLogic, a mortgage value tracking company. The company uses proprietary computer software that detects discrepancies in loan documents and predicts the likelihood of fraud.

Scammers are now getting more sophisticated and are recruiting employees of mortgage companies to help them. As a result, identify theft is also rising. You can read the rest of the article here.

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1 Comments:

At 9:05 PM, Anonymous Carmen Brodeur said...

Oh boy I hope not! Mortgage fraud was a big reason we are in this mess now. It was a large factor that lead to the housing crash. We certainly need to limit future fraud.

 

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