Mortgage Fraud is not going to stop, whether it’s a boom industry or a bust industry, says Lafferty. “In the bust market right now, there are several factors that increase the opportunity for fraud,” he says. The increased regulatory environment has had some impact on the mortgage fraud rate, he adds. The federal code does not specifically criminalize mortgage fraud, but there is a group of different federal offenses that are used effectively by prosecutors to prosecute mortgage fraud. There is fraud all the time, but fraud is going to be perpetrated differently when there are different opportunities.”]
Source: https://www.cuinfosecurity.com/mortgage-fraud-worse-before-better-a-3323