Despite HVCC, Valuation Fraud to Rise
Posted on October 28, 2009
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The risk of mortgage fraud in the third quarter on U.S. loans worsened 11 percent from the previous quarter, Interthinx reported. The risk of property valuation fraud shot up 25 percent from the second quarter. The rise in this category seems illogical given the recent implementation of the Home Valuation Code of Conduct. But Interthinx explained that the increase was tied to a rise in foreclosure activity.
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