Mortgage fraud losses 'in the hundreds of millions'

The Fighting Mortgage Fraud Together report by the National Fraud Strategic Authority (NFSA) has been compiled following consultations with associations from across the industry, including the Council of Mortgage Lenders and the Association of Mortgage Intermediaries. It states over-valued properties, whether they relate to error, negligence or fraud, are harder to spot when there is a flourishing market, as natural market rises disguise the impact of over-valuation on property prices. Meanwhile, high loan to value mortgages-in excess of 100%-offered in recent years have, in some cases,...