The Real Deal Miami

Fraud reports suggest added scrutiny

February 06, 2009 10:47AM

Florida has the dubious distinction of being among the top 10 states in mortgage fraud, according to the National Association of Realtors. The association said in a recent report that realtors can help slow crime in the state. Recognizing, reporting and avoiding mortgage fraud is possible, and some key red flags include price adjustments that are not supported by comparable market data, possibly accompanied by a request that the list price in the MLS be altered to reflect appraised value. Asking for a specific appraiser is another clue something may be amiss, the report said.