-Annual mortgage fraud risk up by 3.4 percent.
Global Banking News - 26 April 2013
Interthinx, a provider of risk mitigation solutions for the financial services industry, has stated that the 2012 Annual Mortgage Fraud risk Index is at 150, which is 3.4 percent higher than the previous year figure of 145.
The increase has been attributed to market stabilisation, tightening housing inventory and home price increases.
Jeff Moyer, president of Interthinx, said that mortgage fraud risk was persistent and invasive because fraud schemes adapt to market shifts. It was therefore important for the industry to safeguard the finance life cycle vigilantly.
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