According to the Federal Bureau of Investigation's (FBI) "2007 Mortgage Fraud Report" released last month, mortgage fraud Suspicious Activity Reports referred to law enforcement increased 31% to 46,717 during Fiscal Year (FY) 2007. The total dollar loss attributed to mortgage fraud is unknown. However, seven percent of reports filed during FY 2007 indicated a specific dollar loss, which totaled more than $813 million. The FBI remains committed to working with our law enforcement, regulatory, and industry partners to unravel these complicated fraud schemes and bring their perpetrators to justice.
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"FBI issues 2007 Mortgage Fraud Report"Please download to view full document