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.
www.chadstewart.com
MORTGAGE FRAUD
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:http://www.floridarealtors.org/NewsAndEvents/n3-062008.cfm
Showing posts with label Mortgage Info - from Lake City. Show all posts
Showing posts with label Mortgage Info - from Lake City. Show all posts
Friday, June 20, 2008
Tuesday, December 18, 2007
MORTGAGESThe Federal Reserve will propose new mortgage rules tomorrow that would give consumers much greater protection. Under consideration: Voiding subprime borrowers’ prepayment penalties, restricting loans that don’t require proof of income, and improving financial disclosures given to borrowers.Read the full story:http://www.floridarealtors.org/NewsAndEvents/n2-121707.cfm
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