Economist Credits Digital Mortgages For Drop in Loan Fraud
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Economist Credits Digital Mortgages For Drop in Loan Fraud

While purchase mortgages account for a growing share of overall volume, industry-wide investments in more automated and efficient underwriting processes have helped lower instances of fraud. The frequency of defects, fraudulence and misrepresentation in the information submitted in mortgage applications for purchase loans decreased 7.8% year-over-year and 4.6% month-over-month in May, according to First American...