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Mortgage Lenders’ Fraud Costs Have Soared Since Pandemic

Friday, Jan 21 2022
Originating
Written by  The Mortgage Leader

Fraud costs and cyberattack volumes for U.S. mortgage lenders have jumped over the past two years, according to new research. So reports SC Magazine.

A recent LexisNexis study, based on a survey of more than 500 risk and fraud management executives in the United States and Canada, finds that fraud has pushed mortgage lenders’ costs up 23.5% since the start of the cyber 4084714 640 smallpandemic.

Per LexisNexis, the risk is especially great for mortgage lenders that have been originating loans digitally, which has clearly become a more popular option at a time of remote work.

Read the full article from SC Magazine.

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