Industry NewsMortgage

Mortgage fraud reports rise 23%

More fraud, or more awareness?
Published on Jul 9, 2009

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by CareyBot

Depository institutions reported 64,816 cases of suspected mortgage fraud in 2008, a 23 percent increase from the year before but the smallest annual increase since 2002.

A report from the Financial Crimes Enforcement Network (FinCEN) shows growth in suspicious activity reports related to mortgage fraud ranged from 41 percent to 44 percent from 2005 to 2007 after peaking at 93 percent in 2004 (see chart).