Incidents of mortgage fraud increased 26% from 2007 to 2008. Rhode Island, Florida and Illinois top the list of states with highest mortgage fraud rates.
Reported incidents of mortgage fraud in the U.S. are at an all-time high and increased by 26 percent from 2007 to 2008 according to a new report released today by the Mortgage Asset Research Institute (MARI®), a LexisNexis® service. The 11th Periodic Mortgage Fraud Case Report to the Mortgage Banker’s Association
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A telephone hotline has been established by the FBI to receive complaints from the public regarding mortgage fraud matters.
The FBI considers mortgage fraud to be a significant and growing crime problem which often affects unknowing consumers, and which has a direct impact upon the overall economic health of the United States. The collapse of the subprime mortgage market, as well as the recent economic downturn, has been met with a corresponding increase in fraud and schemes connected to
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Premier Financial Lenders, a fictitious company, is exploiting North Dakota’s reputation for honesty in an effort to con people across the country. This advance loan fee scheme has prompted consumer complaints as far away as California claiming that a North Dakota company is involved in a scam.
The phony company, currently using the business name “Premier Financial
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Time to update the web pic …. That old red jacket photo has followed me since the first post in July 2004. That picture hasn’t aged at all!! Alas, I don’t live in stasis. So, we’re changing the picture … we may change it several times – kind of like the spin on that slot machine …. clicking past the mismatched tiles to land, finally, on the three 7’s ….
Leave your comments and help choose the final photo. :coolmad:
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