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Karen Spangenberg
Section Chief
Financial Crimes Section
Presentation for the
National Fraud Issues Conference
Mortgage Bankers Association
Chicago, IL
05/02/2006
Number of Violations of
Mortgage Related Fraud SARS
Fiscal Years 2002 – 2005
(10/1/01 – 09/30/05)
30,000
Number of SARs received
21,994
20,000 17,127
11,611
10,000
6,936
6,784
5,623
4,569
3,711
2,126
1,764
1,850
1,724
0
Mortgage Fraud Commercial False Statement
Loan Fraud
Fiscal Year 2002 Fiscal Year 2003
Fiscal Year 2004 Fiscal Year 2005
Report Date: 9/30/05
Dollar Losses Reported of
Mortgage Related Fraud SARS
Fiscal Years 2002 – 2005
(10/1/01 – 09/30/05)
Dollar Losses Reported in Millions
2,000
Rounded to nearest million
1,500
$1,163
$1,060
$1,014
$1,010
$998
1,000
$711
$469
$458
$429
$388
500
$293
$225
0
Mortgage Fraud Commercial False Statement
Loan Fraud
Fiscal Year 2002 Fiscal Year 2003
Fiscal Year 2004 Fiscal Year 2005
Report Date: 9/30/05
Mortgage Fraud Related
Suspicious Activity Reports
10/01/2005 – 03/31/2006
Number of Mortgage-Related SARs Received
20,000 16,707
15,000
$545.9 Million 8,643
10,000 in Losses 5,789
5,000 $1.12 Billion
in Losses
$270.9 Million
0 in Losses
Number of SARs
Mortgage Loan Fraud SARs Consumer Loan Fraud SARs
False Statement SARs
Mortgage Fraud
Pending Cases
721
800
700
534
600
436
500
400
300
200
100
0
2003 2004 2005
**105 cases were closed in 2005
FBI Mortgage Fraud Case
Investigations
10/01/2005 – 03/31/2006
Number of FBI Cases with Mortgage Fraud CPI Code
1,000
835
748
750
500
250 189 195
102 117
0
FIF (29A-M Classifications) All FBI Classifications
Mortgage Fraud Cases Opened Mortgage Fraud Cases Closed
Mortgage Fraud Cases Pending
Mortgage Fraud CPI Code
BANK FRAUD IN
PERSPECTIVE
• FY 2005 Losses to Bank Robbery,
Burglary, and Larceny-$42.1 Million (4,963
cases).
• FY 2005 Losses reported to the FBI due to
Financial Institution Fraud- $2.7 Billion
(5,041 cases).
– -FY 2005 losses to Mortgage Fraud-
$1,014,000 (721 cases).
Top Ten “Hot Spots” Mortgage Fraud Incidents (per capita), 2003
WA VT ME
MT ND NH
MN
OR WI NY MA
ID SD MI
WY PA RI
IA OH CT
NV NE IL IN
WV VA NJ
UT CO MO KY
KS DE
CA NC
TN MD
OK AR SC
AZ NM
MS AL GA
LA
AK TX
FL
PR
HI
Top Ten “Hot Spots” Mortgage Fraud Incidents (per capita), 2004
WA VT ME
MT ND NH
MN
OR WI NY MA
ID SD MI
WY PA RI
IA OH CT
NV NE IL IN
WV VA NJ
UT CO MO KY
KS DE
CA NC
TN MD
OK AR SC
AZ NM
MS AL GA
LA
AK TX
FL
PR
HI
Section Chief Karen Spangenberg
Financial Crimes Section
Work Phone: (202) 324-5590
