Clouding the G-7 gathering, which represents the world's major industrial economies, are the tit-for-tat tariffs between Washington and Beijing.Politicsread more
President Donald Trump said that he would have a major trade deal with U.K. after it leaves the European Union.Politicsread more
President Donald Trump said Sunday he was not happy after North Korea launched short-range ballistic missiles over the weekend.Politicsread more
The Goldman Sachs technology M&A team, led by Sam Britton, has cashed in on its software focus and decades of experience to dominate 2019's biggest deals.Technologyread more
American small and medium-size companies that rely on China are scrambling to adjust their business plans in response to the escalating trade war.Traderead more
Carl Medlock used to work at Tesla. Now he's one of the few people in the U.S. that can fix the company's original Roadster electric vehicles.Technologyread more
Here are the products that stand to be the most affected by China's new tariffs on $75 billion worth of U.S. goods.Marketsread more
The summit comes amid fears over a global economic slowdown, and U.S. tensions over trade allies, Iran and Russia.Politicsread more
The world's second biggest economy is past a point where it cannot ignore its enormous debt anymore, according to an analyst.China Economyread more
Trump does have some powerful tools that would not require approval from U.S. Congress.Politicsread more
Stocks dropped after Donald Trump ordered that U.S. manufacturers find alternatives to their operations in China.US Marketsread more
The good news: Fewer borrowers are lying on their mortgage applications. The bad news: The remaining cheaters may be pulling a more dangerous scam. Instead of inflating their home prices, they are now inflating their incomes and assets, according to researchers at CoreLogic.
"There's no need to inflate the value of the home because home prices are rising," said CoreLogic's chief economist Mark Fleming.
But new federal regulations forcing lenders to prove that borrowers can repay their loans has some borrowers shifting the focus of their fraud to their personal balance sheets. Lenders are now scouring financial records, unlike during the recent housing boom, in order to make sure they are complying with new rules, so fraudsters are following suit, jacking up the numbers.
(Read more: Forget easing prices, new homes are up, up, up)
That could be more dangerous to the banks, because jacking up a home price only hurts if the home price falls, but inflating income means the borrowers may not be able to pay the loan no matter what.
"The bubble markets of old, the lax lending practices, were making it a lot easier to perpetrate fraud. On a no-doc loan you didn't need to prove anything. Clearly that shifted to a much tighter underwriting standard environment," said Fleming.
Overall, mortgage fraud was down 5.6 percent in the second quarter from a year earlier, although it is up slightly quarter to quarter, according to CoreLogic. Fraudulent residential mortgage loan applications totaled an estimated $5.3 billion nationally in Q2, down from $5.5 billion a year earlier. That is still less than 1 percent of home loan applications.
(Read more: Real estate's new frontier: Crowdfunding)
Of all the ways to defraud a bank, over 13 percent of loan liars misrepresented their incomes, a 7.5 percent jump quarter to quarter. While one-fifth of fraudsters deliberately over- or under-valued the home to achieve illegitimate gains in Q2, that was actually a 7.1 percent drop from the previous quarter.
While the propensity to commit fraud is declining nationally, perhaps due to stricter underwriting, the dollar value of fraud is rising, simply due to growing loan volume.
(Read more: Map: Tracking the recovery)
The states with the highest estimated value of fraudulent mortgage applications were California, New York, Florida, Texas and Virginia. These states have some of the nation's highest home values.
—By CNBC's Diana Olick. Follow her on Twitter @Diana_Olick.