Orlando among top areas for mortgage fraud

The Orlando area and the state as a whole topped a list of cities and states that were at high risk for mortgage fraud, said an analysis by CoreLogic Inc. The research firm’s 2010 Fraud Trends Report listed Orlando as having one of the highest-risk ZIP codes in the United States, along with Miami, Atlanta, Detroit and Jamaica, N.Y., with an average fraud rate of three to four times the national rate. Additionally, Orlando had five of the 10 highest-risk streets in the nation, where nearly every loan booked appeared to have fraudulent information and the foreclosure rate on the streets was 50 percent or higher.

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Mortgage rates drop on Fed intervention

The average U.S. rate for a 30-year fixed mortgage fell to 3.33% this week, according to Freddie Mac, as the Federal Reserve’s bond-buying program created demand for securities backed by home loans.

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3d rendering of a row of luxury townhouses along a street

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