FBI Mortgage Fraud Investigations Jump 400% in Five Years

Mortgage Fraud + Laws, Charges & Statute of Limitations. – As a result, it is very rare for a mortgage fraud case to make it to court. Mortgage Fraud Laws. Mortgage fraud is covered under the 2009 FERA (Fraud Enforcement and Recover Act). This Act has highlighted the fines and prison sentences relating to mortgage fraud. FERA is a federal legislation, and most states also have their own laws in place.

Reporting Fraud to the FBI – If it is determined fraud was committed, the case should be reported to the FBI. In the past few years, mainly due to the rise in this type of fraud, the FBI has started to develop a stronger relationship with the mortgage industry in an attempt to work collectively and solve these cases.

Complaints about potential mortgage fraud are up during the subprime mortgage crisis, and the FBI has opened criminal investigations of 14 companies related to subprime mortgage loans, the agency.

FBI Cracks Down On Mortgage Fraud.. Banks reported nearly 53,000 cases of suspected mortgage fraud last year, up from more than 37,000 a year earlier and about 10 times the level of reports in.

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Dead’ banker’s victims still waiting for payback – In investment fraud cases. funds in-depth reporting and investigations that keep you informed. Thank you for supporting real journalism. The AJC first reported on Aubrey Lee Price more than five.

Using FBI statistics, Treasury said that the FBI investigated more than 2,100 mortgage fraud cases in 2009, a 400 percent increase from five years ago (Page 7 of the report). The report, dated.

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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.

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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.