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: Mortgage Lender Implode-o-MeterAppraisal Fraud Jumps 50% in 2009: MARI
By Implode-Explode Heavy Industries
The Mortgage Asset Research Institute (MARI), whose subscribers represent 70% of the mortgage finance space, reports today appraisal fraud is taking a larger proportion of trickery alleged in suspicious activity reports (SARs) filed with the Financial Crimes Enforcement Network (FinCEN).
In 2008, suspected appraisal/valuation fraud stood at 22% of mortgage fraud reports. In 2009, that jumped to 33%, said MARI in a conference call on its yearly results.
Full post as published by Mortgage Lender Implode-o-Meter on April 27, 2010 (boomark / email).
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