FBI Mortgage Fraud Investigations Jump 400% in Five Years

decrease in Real Estate pending investigations from a high of 458 (7/09) to. 157 ( 6/11), with.. less than 5 years old back to original school for.

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

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You can’t read a newspaper or watch the evening news these days without seeing stories about the current mortgage crisis and the fraud that goes along with it. The FBI, of course, plays a major role in investigating mortgage fraud-and our caseload has more than tripled in the past five years.

A few minutes later, Seymour sentenced Breibart – one of the highest-profile legal crooks in recent South Carolina history – to five years and three months in prison. Breibart, 63, in August pleaded.

The FBI’s financial institution/mortgage fraud investigations pursue those who endanger the stability of our banking system and the safety of assets and personal information the public has.

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FBI Issues Mortgage Fraud Notice in Conjunction With Mortgage Bankers Association. Since September 2002, the number and types of investigations have increased from 436 to 1,036. Of these current cases, 51% involve expected losses in excess of $1 million, and 57% involve our federally insured financial institutions as victims.

"Operation Malicious Mortgage," the investigation by the FBI and Justice Department, began March 1, government officials said. It resulted in 144 fraud cases in which 406 defendants were charged.

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."

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Home sales are struggling to rebound after slumping in the second half of last year, when a jump in mortgage rates to nearly 5% discouraged many would-be buyers. Spring buying is so far running behind.

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