FBI Mortgage Fraud Investigations Jump 400% in Five Years

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The FBI investigates mortgage fraud in two distinct areas: Fraud for Housing and Fraud for Profit. Fraud for Profit is sometimes referred to as "Industry Insider Fraud" and the motive is to remove equity, falsely inflate the value of the property or issue loans based on fictitious property(ies). based upon existing investigations and mortgage fraud

 · * FBI director says 3,000 mortgage fraud cases pending.. FBI chief defends mortgage fraud efforts.. The agency has more than 3,000 open investigations into mortgage fraud alone, with 94 task.

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FBI: Mortgage Fraud is Growing; The Federal Bureau of Investigation (FBI) released a comprehensive new report Federal Bureau of Investigation Releases 2007 Mortgage. double from just five years.

In December, 2008, the FBI dedicated resources to create the National Mortgage Fraud Team (NMFT), at FBI Headquarters in Washington, D.C. The NMFT, which has responsibility for management of the FBI’s Mortgage Fraud Program, serves as a veritable fusion center.

Fraud is running rampant in the nation’s mortgage industry, with nearly three times as many reports of suspicious activity so far this year as in 2001, a top FBI official said Friday. "It has the.

CoreLogic: More foreclosures lead to fewer underwater mortgages Nationally, more and more properties have equity, and according to a report from CoreLogic published last week, Fairfield County’s housing market reflects these trends.. Reported in the Connecticut Post, the number of underwater properties dropped over the second quarter in 2013. Specifically, the percentage of homes with negative equity decreased from 15.3 percent in the first quarter to 11.

FBI coming for crooked brokers – The Real Deal – launched in 2003. (The FBI only investigates mortgage fraud that is worth $500,000 or more.) And for the past six months, the FBI has been working with other federal, state and local agencies to.

CoreLogic estimated over $19 billion worth of mortgages contained mortgage fraud over a 12-month period ending in the second quarter of 2014. Types of Mortgage Fraud. According to the FBI, mortgage fraud is simply a "misstatement, misrepresentation, or omission in relation to a mortgage loan which is then relied upon by a lender."

Permanent HAMP mods fall 26% in August Because the jobless benefits can’t be considered permanent income, the lender will instead evaluate troubled borrowers for forbearance plans of up to six months. The new guidelines, released Tuesday,

MORTGAGE FRAUD IS INVESTIGATED BY THE FBI Mortgage Fraud is investigated by the Federal Bureau of Investigation and is punishable by up to 30 years in federal prison or $1,000,000 fine, or both. It is illegal for a person to make any false statement

Foreclosure aid programs lifted by $70.1 million in NeighborWorks funds support, technical assistance, and training for com-munity-based revitalization efforts. The Housing and Economic Recovery Act of 2008 appropriated $180 million to NeighborWorks to continue the National Foreclosure Mitigation Program. This appropriation provides funds for foreclosure counseling, legal assis-

The number of open fbi mortgage fraud investigations has increased more than five-fold in the past three years, from 102 probes in 2001 to 533 as of June 30 this year, the FBI said.