Mortgage Fraud Risk Index Reaches Highest Level Since 2004

The risk of mortgage fraud is on the rise. According to the quarterly Mortgage Fraud Risk Report released Tuesday

by Agoura Hills, California-based Interthinx, overall mortgage fraud risk in the first quarter of 2010 jumped 4 percent from the previous quarter and was 11 percent higher than the same quarter a year ago.

The quarter-to-quarter surge brought the fraud risk index to a value of 151. This, Interthinx said, is the first time since 2004 that the index has exceeded 150.

On state-by-state basis, the report found that Arizona, with an index value of 246, had the highest mortgage fraud risk in the first quarter, surpassing California which was ranked No. 1 the previous quarter. Interthinx said the rise in fraud risk in Arizona was likely due to a migration from neighboring Nevada, similar to that which occurred in 2004 to 2006…

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