MORTGAGE FRAUD REPORT

In 2007, the FBI wrote a report on the state of mortgage fraud across the United States. It was published in April 2008. Even though it is two years out of date, it is well worth reading for insight into the scope of the crisis today. This is the preface to that report:


Scope Note

The purpose of this study is to provide insight into the breadth and depth of mortgage fraud crimes perpetrated against the United States and its citizens. This report updates the 2006 Mortgage Fraud Report and addresses current mortgage fraud projections, issues, and “hot spots.” The objective of this study is to provide FBI program managers with relative data to justify mortgage fraud resources and for investigators to identify mortgage fraud activity. The report was requested by the Financial Crimes Section, Criminal Investigative Division (CID), and prepared by the Financial Crimes Intelligence Unit, Directorate of Intelligence. Information for the study was gathered from the FBI, other law enforcement agencies, the mortgage industry, and open source reporting.


The report can be found on the Bureau's website at:

http://www.fbi.gov/publications/fraud/mortgage_fraud07.htm

Worth noting is that the 2009 report, through April 2008, is due out soon.