0 minute readMortgage fraud is still on the rise and New York isn’t dodging the bullet in the crisis. New York came in as the second worst state for mortgage fraud in 2009, according to the Mortgage Asset Research Institute. Mortgage fraud helped to build the housing crisis. Mortgage professionals would get loans for their consumers by doing such things as listing false income claims for borrowers and overstating a home’s appraised value. New York came in as second worst in 2009 for mortgage fraud, with a mortgage fraud index reading of 217, up 14% since 2008.
Diana Golobay was a reporter with HousingWire through mid-2010, providing wide-ranging coverage of the U.S. financial crisis. She has since moved onto other roles as a writer and editor.see full bio
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The story for the housing market over the past three years has been, “Home sales are down, home prices are up.” Because inventory was so restricted after the pandemic, prices pushed higher even as demand weakened. That story may finally be inverting as unsold inventory of homes is now great enough that home prices are […]
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Diana Golobay was a reporter with HousingWire through mid-2010, providing wide-ranging coverage of the U.S. financial crisis. She has since moved onto other roles as a writer and editor.see full bio