Friday, June 20, 2008

Mortgage Fraud Crackdown

See the article below, this is a big part of why the mortgage industry was in such a termoil.
from Chad Stewart - Lake City Florida Realtor & Blogger.

At least 22 people in Miami-Dade have been arrested on federal mortgage fraud charges in recent weeks, pushing the total to 102 people charged since September. In 2007, there were 47,000 "suspicious activity reports" in Florida, which leads the nation in the number of reports. In 2003, there were only 7,000 - an increase of more than 570 percent.Read the full story:

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