National

Apr 26, 2010 11:40 AM by Associated Press

Mortgage fraud incidents rise last year

Incidents of residential mortgage fraud increased last year, a sign that scammers are still targeting the industry despite efforts to find and report such activity.

A study released Monday by the LexisNexis Mortgage Asset Research Institute showed the number of mortgage fraud reports among loans made in 2009 grew 7 percent from the previous year. That's a much smaller increase than the 26 percent jump seen in
2008.

The slower growth rate is being attributed to better reporting and policing for fraud activity, but there's more to it. The report also said more scammers are using technology to access information
and allow them to remain anonymous by using the Internet.

Among states, Florida moved into the top spot for mortgage fraud.

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