Industry NewsMortgage

Mortgage fraud reports level off

Number of suspected cases remains at historic high
Published on Jan 22, 2010

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by CareyBot

After six years of double-digit growth, reports of suspected cases of mortgage fraud by lenders leveled off in the first half of 2009 but remained at a historically high level, acccording to a government report released today.

The Financial Crimes Enforcement Network (FinCEN) said depository institutions reported 32,926 cases of suspected mortgage fraud in the first half of 2009, an increase of less than 1 percent from the same period in 2008.

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