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Entries in Fannie Mae Fraud Updates (1)
Monday
18Dec
Fannie Mae releases November Mortgage Fraud Update
Monday, December 18, 2006 at 03:25PM Fannie Mae released the November of its Mortgage Fraud Update. Some of the key parts of the report are listed below (however it is recommended that you read the below attached report):
Income misrepresentation (24%) is the most common single misrepresentation finding.
Credit-related misrepresentation (Credit, SSN and Liabilities) are the most common group (29%)
The Midwest currently contains the largest share of Fannie Mae loans with mortgage fraud findings.
The Southeast continues to contain a large share, followed by the Northeast and South Central.
The West and Mid-Atlantic continue to see their shares declining relative to prior periods.