Mr.
Schiff: Mortgage
Fraud is keeping
the FBI busier
than you can imagine...
Mr. Weber:
"Mortgage
Fraud is an extremely
serious crime
resulting in millions
and millions of
dollars worth
of losses."
Mr. Schiff: That's
FBI Special Agent
Brian Weber. He
works in the Economic
Crimes Unit in
the FBI's Criminal
Investigative
Division...
Mr. Weber:
"Fraudsters
have been taking
advantage of the
mortgage industry
for many years.
And the recent
rapid increase
in real estate
prices have made
that specific
fraud that much
more lucrative
to the fraudsters."
Mr. Schiff: Weber
says the types
of mortgage fraud
changes over time...
Mr. Weber:
"Builder
Bailout Schemes,
Seller Assistance
Schemes, Foreclosure
Rescue Schemes,
Short Sales Schemes
and Identity Theft
related to Home
Equity Lines of
Credit."
Mr.
Schiff: The
FBI's Financial
Crimes Report
to the Public
for Fiscal Year
2007 shows that
the FBI had more
than 1,200 Mortgage
Fraud cases with
more than 300
indictments, 200
convictions and
over $66 million
in restitution
orders. I'm Neal
Schiff of the
Bureau and that's
what's happening
at the "FBI,
This Week."
