WASHINGTON, D.C. – U.S. Senator Barbara A. Mikulski (D-Md.) chairwoman of the Commerce, Justice and Science Appropriations Subcommittee today expresses outrage over the recently released Mortgage Asset Research Institute’s annual report findings, which ranked Maryland fifth in the nation for mortgage fraud.

Chairwoman Mikulski secured $10 million in the 2009 Omnibus Appropriations Act for the Federal Bureau of Investigation to hire at least 25 new special agents to investigate mortgage fraud. It is the first and only federal funding for law enforcement specifically dedicated to cracking down on mortgage fraud. The bill was signed into law last week.

Chairwoman Mikulski’s statement follows:

“I am outraged by the predatory practices, deceptive marketing and lending schemes that have swept across the country and especially in Maryland. It’s time to go after the scammers who have pushed fraudulent loan applications hoping to make a buck. I’ve made an important down payment to crack down on this abuse by including $10 million in the 2009 Omnibus Appropriations Act for the Federal Bureau of Investigation to hire at least 25 new special agents to investigate mortgage fraud.

“While this is a first step, it is not the only step. As Maryland’s senior Senator, I will keep fighting to make sure the federal government stops the scammers, schemers and predators responsible for devastating families and communities with bad home loans and foreclosures.”