Connecticut lone state to see improvement in mortgage ‘defects’

In September, Connecticut was the lone state in the nation to see a decline in borrowers misrepresenting facts on mortgage loan applications, according to a new study, with the Bridgeport-Stamford region seeing an even greater improvement. First American Financial maintains a running loan application “defect” index that estimates fraudulent and false statements on mortgage applications, to include those addressing collateral or income. As of September, Connecticut’s score on the First American Financial index dropped 2.8 percent from a year earlier — indicating fewer fraudulent applications — even as the index score popped more than 20 percent for all states nationally. The index overall remains down 18.

from Business http://www.ctpost.com/business/article/Connecticut-lone-state-to-see-improvement-in-12320252.php