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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