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NCJ Number: NCJ 240462     Find in a Library
Title: Mortgage Fraud
  Document URL: PDF 
Corporate Author: Bureau of Justice Assistance
US Dept of Justice
Office of Justice Programs
United States of America
Date Published: 10/2012
Page Count: 4
  Series: BJA Fact Sheets
  Annotation: This report examines the scope of mortgage fraud in 2010.
Abstract: This report provides findings on mortgage fraud data analysis. Although the exact amount of money lost to mortgage fraud is unknown, one study estimates that more than $10 billion in loans were originated with fraudulent application data in 2010. Mortgage fraud investigations are time intensive, with various schemes often used by multiple perpetrators, who can include lenders, appraisers, investors, and bank representatives. Examples of mortgage fraud include illegal property flipping, fraudulently inflated appraisals, backward application schemes, debt elimination/reduction schemes, and many others. To address this critical issue, BJA awarded grants totaling approximately $10.7 million under the American Recovery and Reinvestment Act of 2009 Edward Byrne Memorial Competitive Grant. Program and approximately $7.7 million under the FY 2010 Edward Byrne Memorial Justice Assistance Grant Program to focus specifically on reducing mortgage fraud and crime related to vacant properties. The 14 grantees represent 6 of the 10 jurisdictions with the highest number of suspicious activity reports.
Main Term(s): Fraud
Index Term(s): White collar crime ; National crime statistics ; Fraud and abuse prevention measures ; Fraud investigations ; Bank fraud
Publication Number: FS 000387
Sale Source: NCJRS Photocopy Services
Box 6000
Rockville, MD 20849-6000
United States of America

Bureau of Justice Assistance Clearinghouse
P.O. Box 6000
Rockville, MD 20849-6000
United States of America
Type: Report (Study/Research)
Country: United States of America
Language: English
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