Mortgage application fraud risk declined in the first quarter of 2026, returning to historic norms as refinancing activity increased, according to a new report from Cotality.

The company’s Q1 2026 National Mortgage Application Fraud Risk Index fell 9.3% from a year earlier and 9% from the fourth quarter of 2025. Cotality estimated that about one in every 129 mortgage applications showed indications of fraud risk during the quarter.

The decline comes as refinancing activity accounted for 41% of mortgage applications in the first quarter, while purchase loans made up 59%.

Despite the overall improvement, Cotality found that the undisclosed details ⇒

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