Hundreds Indicted for Mortgage Fraud
Since March, more than 400 real estate industry people have been indicted in a Justice Department crackdown on incidents of mortgage fraud nationwide that have contributed to the country's housing crisis. This includes a few dozen arrests just over the last two days.
The FBI estimates that the losses to homeowners and other borrowers who were victims in the schemes at over $1 billion.
Deputy Attorney General Mark Filip said in a statement Thursday, "Mortgage fraud and related securities fraud pose a significant threat to our economy, to the stability of our nation's housing market and to the peace of mind to millions of Americans.”
Full Article...Mortgage Fraud...Miami Beach Real Estate
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