CoreLogic’s Fraud Index estimates fraud losses for 2010 to be $11 billion, down from $14 billion in 2009. While the probable rate of fraud has increased by 20 percent due to highly risky government loan programs, actual fraud losses are lower because origination volume is...

Legislation has been signed into law in New York that requires mortgage lenders that lose in a mortgage foreclosure action to pay the borrower’s legal fees. The new amendment to the state’s Real Property Law, Section 282, applies solely to residential real property, according to Bruce Bergman, a foreclosure attorney and a partner with the New York law firm Berkman, Henoch, Peterson, Peddy & Fenchel. The provision covers...