The rate of mortgage fraud in the U.S. has accelerated since falling to a low early last year with sales of foreclosed homes among the most likely to involve fraud, according to a report by housing and financial data firm CorelLogic.
Mortgage fraud activity peaked in 2006 at a rate of 1.09 and then tumbled to a low of 68 in early 2009. But as of the second quarter of this year it has increased by more than 20 percent to a rate of 82. CorelLogic said Wednesday.
The firm analyzed 7 million loans issued from the first quarter of 2005 through the second quarter of 2010.