Attempted mortgage fraud rises 37%

Despite numbers dipping in Q3 and Q4 2009, fraudulent mortgage cases now account for 35 out of every 10,000 applications. This is more than double the 16 in every 10,000 cases identified in Q2 2007 when the economy was more buoyant. Experian found that the majority of fraudulent mortgage applications in the first half of 2010 involved applicants misrepresenting their situations or attempting to hide adverse credit histories in their applications. However, automotive fraud has overtaken attempted mortgage fraud in Q2 2010 to reach its highest level since early 2006, with 47 in every 10...