Mortgage application fraud declined 3.1% year-over-year in Q2 of 2023 compared to the second quarter of 2022, according to CoreLogic Mortgage Fraud Report. Though fraud risk levels have been holding steady since last year, the report found that 0.75% of all mortgage applications were estimated to contain fraud – about 1 in 134 applications, with two-to-four unit properties posing the highest risk of fraud at 1 in 28 transactions. Despite the overall decrease, New York and Florida remain the top two states for mortgage application fraud, with Connecticut, California and New Jersey following.
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