There has been an alarming rising trend in the emergence of more elaborate kinds of mortgage fraud, according to an Equifax Canada executive. The declaration was made in the wake of a recent Equifax survey which found that approximately 9% of Canadian borrowers have not been entirely truthful on their loan applications. A similar proportion believed that it was “acceptable” to falsely report a higher income during application time, even as 40% agreed that mortgage fraud is “a growing problem.”
source: mortgagebrokernews.ca
