Real Estate Identity Theft on the Rise

Reported incidents of mortgage fraud in the U.S. increased by 42 percent in the first quarter of 2008 from a year ago, according to a new report released today by the Mortgage Asset Research Institute (MARI).

For all states, the top fraud incident type was in ?General Application Misrepresentation? followed closely by misrepresentations related to ?Income? and ?Employment.? In addition, MARI continues to see multiple fraud types, such as identity theft and identity fraud, in loan transactions.

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