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A new report from ""Kroll Factual Data"":http://www.krollfactualdata.com/, a provider of risk mitigation and verification services, shows possible fraud increased slightly in the first quarter of this year--though some regions saw possible fraud rise 30 percent or higher.
[IMAGE]According to Kroll, Q1 2013 experienced a 1.06 percent increase throughout the country of ""possible fraudulent activity associated with loan applications processed by the company between the first quarter of 2013 and the fourth quarter of 2012.""
Despite the relatively small national increase, ""large increases in certain metropolitan statistical areas (MSAs) coupled with seesawing data from quarter-to-quarter point
[COLUMN_BREAK]to a disconcerting state of unpredictability in certain locations,"" the Loveland, Colorado-based company stated.
Of particular concern were the Sacramento (California) and Barnstable-Yarmouth (Massachusetts) markets, which each posted a nearly 38 percent increase in possible fraudulent activity--despite the fact that they were among the top three markets in Q4 2012 that reported decreases.
""The fact that these two MSAs could fall from among those with the largest decreases to those with the largest increases in the span of three months is a reminder to lenders that they cannot let their guard down when it comes to ensuring the integrity and accuracy of mortgage application data,"" said Kroll president Rod Bazzani.
Wilmington (Delaware-New Jersey-Maryland), Syracuse (New York), and Fort Pierce-Port St. Lucie (Florida) made up the remainder of the top five markets reporting increases in potential fraud.
On the other hand, Greenville-Spartanburg-Anderson (South Carolina), Trenton (New Jersey), Miami (Florida), Nashua (New Hampshire), and Columbia (Missouri) reported the greatest decreases in possible origination fraud. Declines ranged from 15.05 percent at the low end (Nashua and Columbia) to 19.62 percent at the highest end (Greenville-Spartanburg-Anderson).
