About mortgage loan fraud

According to the US Financial Crimes Enforcement Network (FinCEN), Remarks of Director Freis before the Mortgage Bankers Association of America, mortgage fraud is "an insidious crime that has robbed many homeowners of not just the roof over their head, but often of their savings and their security. What draws many of you here today is to guard against instances when mortgage fraud is perpetrated for profit; such criminal profit is meant to be at the expense of you and the institutions you represent. Mortgage fraud is also tied to other serious crimes: identity theft, money laundering and others. But together we must fight this crime by using all the tools at our disposal and by coordinating our activities with law enforcement." (Read the report on Mortgage Loan Fraud Connections with Other Financial Crime.)