Mortgages Facing Risk of Fraud

first_imgHome / Daily Dose / Mortgages Facing Risk of Fraud Share Save Data Provider Black Knight to Acquire Top of Mind 2 days ago October 6, 2017 1,257 Views CoreLogic HOUSING mortgage 2017-10-06 Nicole Casperson About Author: Nicole Casperson CoreLogic Senior Director of Fraud Solutions Strategy Bridget Berg recently took a look at the overall fraud risk outlook for 2017.Based on CoreLogic’s information, fraud risk increased by about 17 percent year-over-year and is now at its highest level since 2010.“Keep in mind, however, that in historical terms, fraud, overall, is still relatively low, given the tighter underwriting since the mortgage crisis, and the amount of rate and term refis over the past few years,” said Berg.However, in 2017, despite the decrease in application volumes, the total number of applications with fraud is higher than last year, in fact, CoreLogic discovered 13,404 applications with indications of fraud in Q2 2017 alone.Berg said there are two main drivers of fraud risk increases this past year, including a continued increase in purchase transaction share from 55 percent of applications to 66 percent over the last year. The other factor is originations coming through wholesale channels, as these loans have a “historically exhibited a higher risk of fraud.”According to Berg, there are three types of mortgage fraud on the rise for 2017. First, occupancy fraud risk has increased by 7 percent, which includes traditional occupancy risk and reverses occupancy risk. Second, transaction fraud risk, covering straw buyers and falsified down payments, has increased about 4 percent. The third type of risk is income fraud risk, which increased 3.5 percent, with “most of the increase happening in the first half of this year.”Regionally, the top three states that are at risk for mortgage fraud are New York, New Jersey, and Florida. However, the states showing the greatest growth rate in fraud are lower-risk states in the middle of the country including, Iowa, Indiana, and Missouri.Berg notes that for the future, CoreLogic will be monitoring cash-out refinances and home equity loans, as rising home prices and homeowner equity, they are forecasted to become prevalent. The fraud risk on these products is higher than it is for rate and term refinances, so Berg said this is another area to watch over time.View the full report by clicking here. Servicers Navigate the Post-Pandemic World 2 days ago in Daily Dose, Featured, Headlines Previous: Industry Reacts to September Employment Report Next: HUD: Establishing Equal Opportunities Data Provider Black Knight to Acquire Top of Mind 2 days ago Nicole Casperson is the Associate Editor of DS News and MReport. She graduated from Texas Tech University where she received her M.A. in Mass Communications and her B.A. in Journalism. Casperson previously worked as a graduate teaching instructor at Texas Tech’s College of Media and Communications. Her thesis will be published by the International Communication Association this fall. To contact Casperson, e-mail: [email protected] Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Related Articlescenter_img Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Tagged with: CoreLogic HOUSING mortgage  Print This Post The Best Markets For Residential Property Investors 2 days ago Subscribe Mortgages Facing Risk of Fraud Sign up for DS News Daily Demand Propels Home Prices Upward 2 days agolast_img read more

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A one-two punch: Optimize your contracts and meet millennial demands

first_imgAre your card processing contracts coming up for renewal in the next 18-24 months? Then it’s time to consider bringing in an expert negotiator to score you lower fees, secure  improved terms, and acquire new services that can help you better serve the single largest market out there today: Millennials.The Power of the MillennialsWe hear a lot about the power of Millennials, and for good reason—born approximately between 1982 and 2002, they’re the largest generation in American history and in our workforce. Millennials represent your credit union’s largest potential member base … are you keeping up with their desire and demand to bank, purchase, and receive alerts via mobile devices—also known as the “digital wallet”? Millennials’ affinity for and reliance on technology make for some astounding realities for credit unions:One in three Millennials are open to switching to another financial institution within the next 90 daysMillennials are three times more likely to open a new account using their phones versus in person23% of Millennials cite lack of a mobile app as the main barrier to financial institution engagement94% of Millennial consumers actively use online banking — many via their smartphones and often never setting foot inside a branch If your credit union doesn’t currently offer digital wallet access for members, you’re simply not meeting the needs of a large and influential segment of the population.Digital Wallet is Waiting for YouSelecting digital wallet services can seem daunting, but they are actually right under your nose, waiting for you.When you negotiate card processing agreements, digital wallet services are often part of the sales pitch. But, for one reason or another many credit unions aren’t quite ready to take advantage of the offers—not enough awareness of the importance of offering digital wallet, not enough in-house experience with the services, not enough funds available, etc. That’s where having trusted advice can make an even more significant impact. Often without realizing it there could be many other missed opportunities if you aren’t fully prepared or able to put it in focus when tackling complex contract negotiations like card processing, internet banking, core processing or card brand agreements. Once you have digital wallet up and running, you’ll see the interest it garners from tech-savvy members and be relieved not to have been left behind as this new way of banking rapidly turns traditional banking on its head. As a bonus, you’ll likely see an increase in revenue from greater card usage when you open up digital payment platforms.Everything to GainWhen you start thinking like a Millennial and serving them on their terms, you’re not only positioning yourself as a forward-thinking credit union—you’re making it easier for your members to engage with you and utilize your services. And that’s always a worthy objective that pays off in so many ways. 10SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Kelly Flynn Kelly has over 15 years of sales and management experience helping financial institutions of all sizes. She leads a team whose charter is to optimize the value of every contract … Web: www.JMFA.com Detailslast_img read more

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Murray ‘mentally’ planning for US Open

first_imgTennis chiefs last week cancelled a tournament in Washington DC due to mark the resumption of the men’s tennis season over “continued uncertainties”.Several leading figures have cast doubts over the US Open, including world number one Novak Djokovic, who earlier this month said he was undecided over whether to travel for the tournament. “Hopefully it can go ahead but, if not, I’m also OK with that,” Murray said in comments reported by the Guardian. “It’s not like I’m saying it must go ahead. We need to try to get back to competing when it’s safe to do so.”Some sports have gone back, and seem to have done pretty well — football, for example. The issue for us is the travel.”Murray, still working his way back from injury, suggested he would probably try to compete at the ATP Western and Southern Open, which has been switched to Flushing Meadows, as a warm-up event ahead of the US Open. Andy Murray is “mentally” planning for next month’s US Open but admits he is apprehensive about the return of tennis following the coronavirus shutdown. The former world number one is taking part in the Battle of the Brits Team Tennis event in London this week and remains focused on the showpiece hard-court event in New York, scheduled to start on August 31.The British player told the Metro he was expecting the US Open, which he won in 2012, to go ahead.  Topics :center_img “We have to try and prepare that way,” he said. “We were saying four or five weeks ago, you know, we were pretty skeptical about it but mentally at some stage you need to start preparing and planning for that.””I’m planning to try and be there in shape for the US Open,” he added. “If it wasn’t happening my schedule for practicing, my rehab would all be a bit different. So yeah, mentally I’m planning for it to go ahead.”The three-time Grand Slam champion said he was still “apprehensive” but hopes tennis can follow other sports back into action after the long lay-off.Top-level men’s and women’s tennis has been suspended since March.last_img read more

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Defensive breakdowns in 2nd half cost Orange in loss to Washington

first_img Published on August 27, 2012 at 1:32 am Contact Josh: [email protected] Allowing set plays to enter the box close to the Syracuse goal was the Achilles’ heel for the Orange on Sunday. SU allowed two Washington second-half goals on shots from inside the box.Syracuse sophomore forward Alexis Koval scored at the 26:24 mark of the first half as the team outshot the Huskies 7-2 early on. Despite strong play throughout the game, two defensive lapses in the second half resulted in two Huskies goals in the Orange’s 2-1 loss.“They served a lot more dangerous balls into the box,” head coach Phil Wheddon said. “Our marking on both goals was poor. The goal was open at the back post on one of them. We’ve got to do a better job at being more organized.”Syracuse’s defensive shape remained steady despite coming off two overtime matches, one on Friday against Albany. Wheddon said after Friday’s game he was worried about the team’s energy level for Sunday, but he said it wasn’t a lack of stamina that led to Washington’s goals.“I was worried that they were going to be tired, but I thought we battled,” Wheddon said. “I thought our defenders were fantastic for the most part. …They battled through everything. I was really, really impressed with them.”AdvertisementThis is placeholder textWheddon said he was particularly pleased with junior defenders Rachel Blum and defender Jackie Moriarty. The pair, along with midfielder Rosina Callisto, broke up numerous WU attempts to get the ball into their offensive zone, especially early in the second half.Like in Friday’s match against Albany, forward Hanna Strong came into the game after 25 minutes and had an immediate effect. Strong got her foot on a ball and sent a pass to midfielder Jackie Firenze. Firenze then sent a lead pass over the top of the defense to Koval, who created enough space to fire a shot into the net.Syracuse’s midfield has kept up its high level of play through the team’s first three games of the season. The midfielders are creating numerous scoring opportunities, whether it’s the starters or the substitutes. Strong and freshmen forwards Maya Pitts and Erin Simon have all made contributions off the bench.While the offense couldn’t find the back of the net, the defense and goalkeeping kept the team in the game.Anghel turned aside the two shots she faced in the first half, highlighted by a spectacular save on Washington forward Brittany Archer from point-blank range.Like Friday, Syracuse could not hold its lead. Washington’s Stine Schoening received a pass from Jaclyn Softli and beat Anghel with a shot 18 minutes into the second half. Anghel robbed WU’s Sami Page on the doorstep moments later.Eleven minutes later, WU’s Lindsay Elston found Isabel Farrell open near the back post. Farrell put a shot past Anghel, putting the Huskies in front 2-1.“I think we kept our shape, and it really just came down to set pieces and staying with our marks in the box,” Koval said. “We just have to work on defensive free kicks and marking in the box. I feel like we can take this game and grow from it. We didn’t do badly with our possession or even with our defensive shape, so it can only go up from here.”SU looks to correct its defensive lapses Friday at St. Bonaventure, where the natural grass surface of McGraw-Jennings Field may cause difficulties for the SU players.“I thought for the most part we did a very, very good job at creating opportunities. Again, we outshot them and had more opportunities off of set pieces than they did,” Wheddon said. “Unfortunately, they scored on a set piece. Our marking in the box wasn’t the best, so that let us down.” Comments Facebook Twitter Google+last_img read more

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Recruitment challenge for US gambling firms, finds Betting Jobs Salary Survey

first_imgShare HBLB ups prize money commitment by 50% July 31, 2020 Betting Jobs Director Fiona Hickey said that effective recruitment has been one of the biggest challenges in the post-PASPA US market, where a lack of local talent combined with difficulties in obtaining work permits and visas for overseas candidates has caused headaches for gambling companies.Hickey spoke to SBC News shortly after publishing the firm’s free-to-access Salary Survey, which found that salaries are on the rise in key gambling jurisdictions such as Malta, Gibraltar and the UK – despite a reduction in the number of new positions in Gibraltar, while compliance has become one of the industry’s most in-demand talents.In total, the survey covered eight geographical regions: UK, Gibraltar, Malta, Eastern Europe, Western & Northern Europe, USA, Africa and Asia. It provided data across the following verticals for each of these regions: executive, technical, commercial, marketing, trading, finance, analytics, operations, product, legal, compliance and game studios.SBC: What are the key takeaways from the survey?FH: The Salary Survey has shown that the global online gambling industry is in rude health and that top talent continues to be attracted to the sector.Malta, in particular, is enjoying significant growth with more start-ups basing themselves on the island and established operators relocating to the jurisdiction. This has seen competition for top talent rise, which in turn has driven salaries upwards.Salaries are also on the rise in other key gambling jurisdictions such as Gibraltar and the UK. That said, the number of new positions has declined in Gibraltar.The survey also shows the rapid progress that has been made in the USA since PASPA was repealed back in May, permitting states to offer legal sports betting for the first time.That said, recruitment has been one of the biggest challenges; a lack of local talent combined with difficulties in obtaining work permits and visas for overseas candidates is causing headaches.More broadly, the survey shows that compliance is now a key vertical in its own right, with most organisations staffing a dedicated compliance team. This has seen compliance become one of the most in-demand talents, and salaries have risen in line with this demand.SBC: What does this say about the state of the global iGaming industry?FH: The Salary Survey shows that the global iGaming industry is thriving and that there are tremendous opportunities on the table in markets all around the world.These opportunities are attractive to candidates, particularly given the global nature of the sector and the chance to work in different countries around the world.Salaries and pay packages are strong and reflect the wider success and buoyancy the industry continues to enjoy. Of course, benchmarking salaries in new markets is tough – this is partly why we have created the Salary Survey so that organisations have an accurate point of reference to work from.SBC: What’s the sample size?FH: The Salary Survey is the result of months spent collating, segmenting and analysing thousands of salaries from around the world. The data comes from the candidates that we have placed as well as those that we have spoken to, plus the organisations that rely on our recruitment services.SBC: Do you think the averages are ‘true’ averages?FH: When we refer to the average salary, we refer to the average for that position in that location – it is not the average of the highest and lowest salaries. Of course, there are always exceptions to this.Take start-ups, for example. They tend to offer a lower base salary but will incentivise the candidate in other ways – bonuses, stocks and shares etc. This is why we also offer a Bespoke Salary Survey service; this can be tailored to an organisation’s individual requirements and deliver more accurate and relevant data and insight. Submit Share Related Articles TVBET passes GLI test for five live games in Malta and Italy August 25, 2020 Genesis to appeal UKGC’s ‘disproportionate suspension’ July 23, 2020 StumbleUponlast_img read more

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