CA Ranked #5 Nationally in Mortgage Fraud Risk

Interthinx, a provider of risk-management data for the mortgage industry, released its Mortgage Fraud Risk Report for Q3 of 2012.

The report states that Florida has now surpassed Nevada as the riskiest state in the country for mortgage fraud.

California, meanwhile, came in at #5; however, California is home to 6 of the 10 riskiest metropolitan statistical areas (MSAs). This includes five of the 10 riskiest MSAs for appraisal fraud and eight of the 10 riskiest MSAs for employment/income fraud risk. This is not good news for honest property owners in those neighborhoods – in fact, it might make it harder for honest buyers to qualify for loans.

The report also lists Merced, CA as the riskiest MSA in the nation.

Read the full report here.