FBI PLAYS CATCH-UP AS MORTGAGE FRAUD FLIES OUT OF HAND

As mortgage fraud is now the number one financial crime across the country, the FBI has been forced to play catch-up in an effort to come to grips with the epidemic. With thousands of investigations are underway, and more and more joining the queue every day, more agents are being assigned to this one single crime than ever before. It has gotten so bad, some agents report, that other white collar crimes are being put on the back burner indefinitely. At the Bureau's Chicago office, for example, the agent in charge has issued a directive that mortgage fraud --- and corruption cases --- will be dealt with immediately and any agent wanting to look at any other financial crime needs to have special permission. In other words, all other fraud cases can wait. Property flipping scams and outright lies on mortgage applications are only now coming to light with property values tumbling. The Bureau is hiring new agents and pouring more resources into its already struggling white-collar crime program.