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Fraud Fuels Early Defaults

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02-12-2007, 09:49 PM

Veronica Corningstone Veronica Corningstone is offline

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Fraud Fuels Early Defaults

Seven out of 10 early payment defaults can be linked to a significant misrepresentation on the original loan application, Basepoint Analytic said in an announcement Monday. The company reportedly analyzed over 16,000 loans. The study further found that loans with egregious misrepresentations were up to 5 times more likely to default in the first six months.

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