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Mortgage fraud under FBI spotlight

Staff Reporter 1 minute read

FBI investigations into mortgage fraud have tripled in the past three years, the director of the FBI has revealed.

Robert Mueller, FBI director, told a House Judiciary Committee hearing that the caseload of mortgage fraud investigations had ballooned to more than 2,400 cases, Reuters reported yesterday.

More than 560 of these are corporate cases, with many believed to be directly related to the financial crisis.

According to Mr Mueller the Bureau has set up a National Mortgage Fraud team, to identify the worst mortgage fraud perpetrators and evaluate where additional FBI employees might be needed.

The team was also using new investigative techniques including undercover operations, wiretaps and computer technology to uncover cases of fraud, he said.

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Mortgage fraud under FBI spotlight
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