Throughout much of 2018, home prices were high, demand was rising and bidding wars were the new normal. As a result of the competitive market, buyers were under more pressure to seek qualification for larger loans. Fraud can come in many forms, but income falsification remains one of the most likely misrepresentations. By December 2018,...

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...

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...

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...

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...

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...