Audio Transcript

Mr. Schiff: Mortgage Fraud in the United States is costing consumers billions of dollars. FBI Special Agent Brian Weber says a lot of convictions in fiscal year 2008…

Mr. Weber: "Three-hundred, thirty convictions of individuals perpetrating mortgage fraud schemes.”

Mr. Schiff: Weber, who is on the FBI’s National Mortgage Fraud Team, says there are more than 2,000 investigations nationwide right now, including a big takedown in the San Diego area …

Mr. Weber: "The scheme involved 24 individuals who were charged with Rico Conspiracy and they were all charged with the Mortgage Fraud Scheme involving property sold for more than $100 million.”

Mr. Schiff: The FBI has a tip for you: “If it’s too good to be true, it probably is.” Weber says if you are house hunting, be careful…

Mr. Weber: "You should always get referrals from friends and relatives with respect to real estate professionals.”

Mr. Schiff: The FBI’s Internet page has more on Mortgage Fraud. It’s at fbi.gov. I’m Neal Schiff of the Bureau and that’s what’s happening at the “FBI, This Week.”