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This is why the nation’s mortgage defect risk continues to decline

Sep 30, 2019By

In August, the nation’s mortgage defect risk continued to ease, according to First American Loan Application Defect Index.
According to the company, the frequency of defects, fraudulence and misrepresentation in the information submitted in mortgage applications declined by 5.2% from the previous year. So, what sparked the recent slide in fraud risk? Well, Mark Fleming, First American’s Chief Economist says it has a lot to do with the nation’s increased number of refinances.