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by CareyBot

The U.S. regulator for Fannie Mae and Freddie Mac will share mortgage fraud information with the Treasury Department's Financial Crimes Enforcement Network, or FinCEN, according to an agreement announced on Monday, media reports said. The Office of Federal Housing Enterprise Oversight said it will share examination findings about actual or suspected mortgage fraud with FinCEN, which works with government agencies and the banking sector to protect the U.S. financial system from financial crime, such as money laundering, according to reports. FinCEN will include the information from OFHEO in its database of Bank Secrecy Act information that can be searched by law enforcement officials, reports said. Residential real estate loan fraud is a national epidemic, costing communities nationwide a...