Mortgage Fraud

General Information Mortgage Fraud overview 2007 Mortgage Fraud Report Mortgage Fraud Warning Poster (pdf) Response to Article on Mortgage Crisis Recent testimony Recent Stories 'Dream Homes' Turn Into Nightmare How to Avoid Becoming a Victim "Malicious" Mortgage Fraud New Analysis of a Rising Threat House Stealing Recent Cases Baltimore $70 million fraud, 4/27/09 San Diego RICO conspiracy, 4/7/09 Austin sentencing, 08/29/08 (pdf) Palm Beach Subprime Fraud, 04/23/08 More field investigations

From foreclosure frauds to subprime shenanigans, mortgage fraud is a growing crime threat that is hurting homeowners, businesses, and the national economy. Learn more here about the scope of the problem and our work to combat it.

Estimated Annual Losses*: $4 billion to $6 billion

Total Mortgage Fraud Suspicious Activity Reports (SARs) in Fiscal Year 2008: 63,173, with more than $1.5 billion in losses
- So far in fiscal year 2009 (through 4/30/09): 40,901

Total FBI Mortgage Fraud Task Forces/Working Groups: 65

Pending FBI Mortgage Fraud Investigations (through 4/30/09): 2,440

Cases opened in Fiscal Year 2009 (through 4/30/09): 965 (compared to 136 in all of Fiscal Year 2004)

Successes in Fiscal Year 2008: 574 indictments/informations; 354 convictions

States with Significant Mortgage Fraud problems in 2008**: 1. Rhode Island 2. Florida 3. Illinois 4. Georgia 5. Maryland 6. New York 7. Michigan 8. California 9. Missouri 10. Colorado

* - Source: The Prieston Group ** - Source: Mortgage Asset Research Institute