have all cratered, leading some experts over the last year to warn of a housing market crash that could bring on a steep correction in home prices.
According to CoreLogic's principal of industry solutions, Bridget Berg, it's becoming harder for people to sell homes as the cost of borrowing stays near a record high. That's helped drive higher instances of property fraud. "Chaos creates a perfect time for cyber criminals to take advantage of these, especially in the housing industry," he said, adding that each transaction between parties is an opportunity for a fraudster to strike.Berg told Insider that she expected to see an uptick in mortgage fraud in coming years, with CoreLogic's National Mortgage Application Fraud Index having increased 30% from its low during the pandemic.
He speculates that fraud could increase as much as 20%-25% over the next few years if the market remains tight.
Seem familiar? 🤔💭🕜
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: WSJ - 🏆 98. / 63 Read more »