Mortgage Fraud

General Information Mortgage Fraud overview Mortgage Fraud Reports: 2009 | 2008 | 2007 | 2006 Mortgage Fraud Warning Poster (pdf) Response to Article on Mortgage Crisis Recent testimony Recent Stories 'Dream Homes' Turn Into Nightmare How to Avoid Becoming a Victim "Malicious" Mortgage Fraud New Analysis of a Rising Threat House Stealing Recent Cases Florida scam sentencing, 3/17/10 40 indictments in Dallas, 3/16/10 Phoenix fraud leader sentenced, 3/15/10 Cincinnati $8 million fraud, 3/15/10 More field investigations

From foreclosure frauds to subprime shenanigans, mortgage fraud is a growing crime threat that is hurting homeowners, businesses, and the national economy. Learn more here about the scope of the problem and our work to combat it.

Estimated Annual Losses*: $4 billion to $6 billion

Total Mortgage Fraud Suspicious Activity Reports (SARs) in Fiscal Year 2009: 67,190, with more than $1.5 billion in losses
- So far in fiscal year 2010 (through 2/28/10): 29,780

Total FBI Mortgage Fraud Task Forces/Working Groups: 77

Pending FBI Mortgage Fraud Investigations (through 2/28/10): 2,989, with 68 percent involving losses of more then $1 million

Cases opened in Fiscal Year 2009: 1,571 (compared to 136 in all of Fiscal Year 2004)

Successes in Fiscal Year 2009: 822 indictments/informations; 494 convictions

States with Significant Mortgage Fraud problems in 2008**: 1. Rhode Island 2. Florida 3. Illinois 4. Georgia 5. Maryland 6. New York 7. Michigan 8. California 9. Missouri 10. Colorado (latest available information)

* - Source: The Prieston Group ** - Source: Mortgage Asset Research Institute