Mortgage Fraud Takes Heavy Toll; Boom in Property Values Makes Huge Market an Attractive Target
The Milwaukee Journal Sentinel › April 11, 2005
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Summary
America's booming mortgage industry has proven ripe for criminal pickings.
Cases of mortgage fraud are mounting.See the full content of this document
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Mortgage Fraud Takes Heavy Toll; Boom in Property Values Makes Huge Market an Attractive Target
The financial toll is reaching "tens of millions of dollars each year," though the actual damage is "unknown and probably unknowable," said William Matthews, vice president of Mortgage Asset Research Institute Inc., in an interview from his Reston, Va., headquarters.
Losses hit consumers, lenders, investors and neighborhoods in any combination, depending on the scam, said one industry ...See the full content of this document
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