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Move My Realty - Real Estate News
Mortgage Fraud Keeping FBI Busy
September 18th, 2009 10:17 AM by Ron Mastrodonato
Mortgage Fraud Keeping FBI Busy
The Federal Bureau of Investigation has more than 2,600 open cases of mortgage fraud, FBI Director Robert Mueller told Congress on Wednesday. Most of the cases involve losses of more than $1 million.
More than 300 special agents are assigned to mortgage fraud, which is up more than 200 percent from what it was three years ago, according to the FBI.
"The schemes have evolved with the changing economy, targeting vulnerable individuals, victimizing them even as they are about to lose their homes," Mueller said in prepared remarks to the Senate Judiciary Committee.
Source: Reuters News (09/16/2009
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Posted by Ron Mastrodonato on September 18th, 2009 10:17 AM
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