Mortgage Fraud Report: Reported incidents rose 5 percent in fiscal year 2009, when approximately $14 billion in fraudulent loans are estimated to have originated. Since March 1, Operation Stolen Dreams has arrested 485 people for their involvement in mortgage fraud losses exceeding $2.3 billion. Expert: “I’m not seeing the sense of urgency that you would think we would see” Mortgage fraud expert Cindi Dixon: “Many clients I am looking at really are not taking the proper steps” The solutions suggested by Dixon and former mortgage banker Robert Nolan: Banks can learn from credit unions on this front.”]
Source: https://www.cuinfosecurity.com/farkas-tip-mortgage-fraud-iceberg-a-2661