Economic Center Blog
Welcome to the First American Economic Center Blog, a top source for the latest housing market research and analysis driven by Chief Economist Mark Fleming.

Why Is Loan Application Fraud Risk Accelerating?

By Mark Fleming on February 28, 2019

The Loan Application Defect Index for purchase transactions continued its upward trend, increasing 5.6 percent in January compared with the month before, the fifth consecutive month defect risk in purchase transactions has risen. Overall, the frequency of defects, fraudulence and misrepresentation in the information submitted in mortgage loan...

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Topics: Loan Application Defect Index

Will Loan Application Defect Risk Stabilize In 2019?

By Mark Fleming on January 30, 2019

In December 2018, the Loan Application Defect Index for purchase transactions continued its string of month-over-month increases, rising for the fourth month in a row. Despite the upswing, the Defect Index for purchase transactions still remains 1.1 percent below its level in December 2017. The Defect Index for refinance transactions also...

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Topics: Fraud, Loan Application Defect Index

Defect Risk Jumps Nationally, Partially Influenced By Rising Defect Risk In California Wildfire Areas

By Mark Fleming on December 26, 2018

In November, the Loan Application Defect Index for purchase transactions continued its string of month-over-month increases, rising for the third month in a row. Yet, year over year, the Defect Index for purchase transactions remains 7.7 percent below its level in November 2017. The Defect Index for refinance transactions also increased 2.8...

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Topics: Fraud, Loan Application Defect Index

Defect Risk Declines Nationally, But Future Increases Possible For Regions Impacted By Natural Disasters

By Mark Fleming on December 3, 2018

For the second month in a row, the Loan Application Defect Index for purchase transactions increased in October compared with the previous month. Year over year, the Defect Index for purchase transactions decreased 8.9 percent compared with October 2017. The Defect Index for refinance transactions increased 1.4 percent compared with the...

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Topics: Fraud, Loan Application Defect Index

What Can Hurricane Irma Teach Us About Defect Risk Trends Following Hurricanes Florence And Michael?

By Mark Fleming on October 26, 2018

For the first time in eight months, the Loan Application Defect Index for purchase transactions increased compared with the month before, rising 1.3 percent in September over August. Year over year, the Defect Index for purchase transactions decreased 11.1 percent. The Defect Index for refinance transactions also increased by 1.4 percent...

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Topics: Fraud, Loan Application Defect Index

Do Hurricanes Influence Mortgage Fraud Risk?

By Mark Fleming on September 26, 2018

Following seven straight months of declining defect risk, the Loan Application Defect Index for purchase transactions remained the same in August compared with the month before. Year over year, the Defect Index for purchase transactions decreased 13.2 percent as compared to August 2017. The Defect Index for refinance transactions is the same as...

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Topics: Fraud, Loan Application Defect Index

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