Fraud in mortgage lending has reached its highest level since the Recession and is increasing by 12.4% year over year. Currently, the misrepresentation of income on mortgage applications is plaguing the housing market, up by 22.1% in the second quarter of 2018. This particular type of fraud costs lenders millions and adds to the due diligence necessary for every loan. Find out about the fraud risks around employment, income and asset verification and how you can arm yourself with the right technology to reduce liability in these areas.
Date: December 2018