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Fraud Surpasses Feds Predictions
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February 12, 2009
Mortgage fraud cases have doubled over the last two years, according to FBI testimony. Officials said losses from the Savings and Loan scandal are small in comparison to the billions in loss already from the mortgage fraud crisis.
Federal Deputy Director John S. Pistole said in a prepared testimony that the current crisis is much worse than the 2004 prediction of the agency's Assistant Director made and that industry insiders deserved much of the blame.
Read story at MortgageDaily.com
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