The Real Deal Miami

Mortgage fraud increases in second quarter

September 16, 2009 03:39PM

Mortgage fraud activity jumped by nearly 600 percent in New York state in the second quarter, the highest activity in any state, according to the Index released today. New York had $234 million worth of mortgage fraud in the second quarter, a 130 percent increase from the previous quarter. Florida had $285 million in mortgage fraud in the second quarter, up 6 percent from the first quarter. Nationwide, there was $1.6 billion worth of mortgage fraud during the second quarter, up from $1.5 billion in the first quarter. TRD