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Economic Center Blog

Streak Of Consecutive Months With Rising Loan Application Defect Risk Reaches Seven

By FirstAm Editor on July 31, 2017

We’ve posted the June First American Loan Application Defect Index, which estimates the frequency of defects, fraudulence and misrepresentation in the information submitted in mortgage loan applications. The Defect Index increased 1.2 percent in June 2017 as compared with the previous month, and increased 16.7 percent as compared to June 2016. The Defect Index is down 17.6 percent from the high point of risk in October 2013.

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Topics: Housing, Home Sales, Fraud, Mortgages, Loan Application Defect Index