Last week I was in Orange County at the Insellerate Experience Summit 21, and this week I am 2,500 miles away in Orlando, FL at the Lenders One Summit. Unfortunately Florida metro areas are seeing increased mortgage fraud (the headline speaker today is Frank Abagnale) and several years ago a business associate recommended that I never mention the term “fraud” in my commentary since web searches would associate me with illegal activities. I never went along with that (and have also never paid a penny to any search engines) and I continue to write about fraud, since lenders and vendors can learn from recent court cases (like this one) and can teach their staffs about them and the flow of money. “Trust but verify.” CoreLogic just released its quarterly mortgage fraud brief for Q2 2021 showing that the Mortgage Fraud Risk Index continued to spike, with YoY gains reaching near historical highs at 37.2%. Occupancy fraud continues to be a top area of concern as the GSEs limit financing availability for non-primary occupancy. Out of the 15 riskiest metros analyzed, Florida metro areas take up six spots! (By the way, today’s podcast is available here, and this week’s is sponsored by Richey May, providing cybersecurity, assurance, tax, business advisory services, and technology solutions to clients nationwide.

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