FBI Issues 2008 Mortgage Fraud Report

In the July 7, 2009 press release, according to the Federal Bureau of Investigation (FBI) 2008 Mortgage Fraud Report,

mortgage fraud Suspicious Activity Reports (SARs) referred to law enforcement increased 36 percent to 63,713 during fiscal year (FY) 2008, compared to 46,717 reports in FY 2007. While the total dollar loss attributed to mortgage fraud is unknown, financial institutions reported losses of at least $1.4 billion, an increase of 83.4 percent from FY 2007.

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