A mortgage fraud crackdown has caught 1215 fraudsters. The government estimates losses have been at $2.3 billion so far. What's more, some fraudsters have bankrupted whole companies, according to U.S. Attorney General Eric Holder.
Apparently, this crackdown is only beginning. The FBI is now investigating fraud activity in large institutions.
Stay tuned. This is getting interesting.
Read Authorities Reveal Mortgage Fraud Crackdown
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The Real Estate Wonk: Multitudinous mortgage fraud – Reporter …
The FBI, which Thursday announced hundreds of arrests for mortgage fraud nationwide, notes that the scammers are choosing from a long menu of possibilities in this uncertain market. For instance: Bankruptcy as a scammer tool. …
Publish Date: 06/18/2010 6:00
http://weblogs.baltimoresun.com/business/realestate/blog/2010/06/multitudinous_mortgage_fraud.html
New Twist on Mortgage Fraud | DoD Live
The latest mortgage relief scam to exploit financially strapped homeowners involves forensic mortgage loan audits. In exchange for an upfront fee of several hundred dollars, so-called forensic loan auditors, mortgage loan auditors or …
Publish Date: 06/17/2010 15:18
http://www.dodlive.mil/index.php/2010/06/new-twist-on-mortgage-fraud/
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