Audio Transcript

Ms. Ballew: The 2009 Mortgage Fraud Report is out. Eulondra Griffith is chief of the Financial Institution Fraud Unit at FBI Headquarters and says this fraud is on the rise, with some of the most common types still around.

Ms. Griffith: “Loan origination schemes in the residential and commercial real estate industry, foreclosure rescue schemes, builder bailouts, and equity skimming schemes.”

Ms. Ballew: And a few new ones.

Ms. Griffith: “Commercial real estate loan fraud is definitely emerging, based on the industry, and residential short sale flopping schemes are prevalent as well.”

Ms. Ballew: There’s an uptick in builder bailout schemes and various economic stimulus plan program schemes.

Ms. Griffith: “We’re also seeing an increase in gang members and organized criminal groups and domestic extremists who are also perpetrating mortgage fraud.”

Ms. Ballew: There are 23 task forces and 67 working groups throughout the country. Check out the report at www.fbi.gov. I’m Denise Ballew of the Bureau and that’s what’s happening at the “FBI, This Week.”