Estimated Annual Losses*: $4 billion
to $6 billion
Total Mortgage Fraud Suspicious Activity Reports in Fiscal Year 2008
(September 2008): 62,494, with $1.4 billion in losses
Total FBI Mortgage Fraud Task Forces/Working Groups (September 2008):
42
Pending FBI Mortgage Fraud Investigations (August 2008): 1,569
Cases opened in Fiscal Year 2007: 462 (compared to 295 in Fiscal Year
2003)
Successes in Fiscal Year 2008 (August 2008): 523 indictments/informations;
282 convictions
States with Significant Mortgage Fraud problems in 2008**: 1. Florida,
2. Nevada, 3. Michigan, 4. California, 5. Utah, 6. Georgia, 7. Virginia,
8. Illinois, 9. New York, 10. Minnesota.
* - Source: The Prieston Group ** - Source: Mortgage
Asset Research Institute
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