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FBI, FinCen report growth in loan mod, short-sale scams

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Reports by financial institutions of incidents of suspected mortgage fraud climbed 13 percent during the six months ending March 31 compared to the same period a year ago, the FBI said in releasing its annual report on mortgage fraud.

Some of the rise in suspicious activity reports (SARs) filed with the U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN) is connected to loans that were originated years ago.

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