I am not sure how scientific this methodology is and if this maybe more of a reflection on our prosecution of mortgage fraud than actual fraud taking place. I am not jumping on this saying that we are in worse shape than other areas, judging by their methodology it seems to me this just shows who is prosecuting mortgage fraud.
Besides, it was a good blog headline to get your attention! (I certainly couldn’t pass it up when I stumbled upon it..)
The index is based on criminal and civil cases where defendants are accused of trying to deceive real estate lenders into making credit decisions using fraudulent documentation or property appraisals with false values. Case tracking is maintained by the mortgage fraud blog FraudBlogger.com.
The Minnesota Mortgage Fraud Index, which rose 15 percent from the same period last year, was at its highest level during any quarter based on more than five years of data.
- 50 States Attorneys General Intend to Deny U.S. Citizens their Day in Court in Bank Settlement: Meanwhile its Ok for the U.S. Government to Sue 17 Banks for Mortgage and Securities Fraud – More Double Standards from our Leaders (johnmurphyreports.com)