Industry NewsMortgage

FBI steps up mortgage-fraud fight

Real estate roundup

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The following is a real estate news roundup: FBI shifts more resources to mortgage fraud The FBI has ordered agents in 26 field offices in areas hard hit by mortgage fraud to put investigations of other financial crimes on hold while they address the problem, Bloomberg reports. An FBI spokesman said mortgage fraud is a "big problem" that requires a shift in resources. Agents in the field offices have been ordered to temporarily stop opening new price fixing, mass marketing, wire fraud, mail fraud, and environmental cases, the spokesman said. The FBI previously had 150 agents working more than 1,300 mortgage fraud cases, Bloomberg said. The FBI recently reported the top 10 hot spots for mortgage fraud were Florida, Georgia, Michigan, California, Illinois, Ohio, Texas, New York, Colorado and Minnesota. Other states "significantly affected" by mortgage fraud are Arizona, Maryland, Utah, Nevada, Missouri, Indiana, Tennessee, Virginia, New Jersey a...