Mortgage-fraud complaints in quarter rise 88 percent from 2010

Mortgage-fraud complaints in quarter rise 88 percent from 2010

Mortgage-fraud reports to the Treasury Department jumped 88 percent in the second quarter — mainly because banks are re-examining loans from the housing boom and finding problems, the department’s Financial Crimes Enforcement Network division said in its latest quarterly report.

The agency said the mortgage-collection arms of banks filed 29,558 suspicious activity reports involving possible loan fraud in the quarter that ended June 30. That compared with 15,727 that the mortgage servicers filed in the same quarter of 2010.

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