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Mortgage Fraud Investigations Are Climbing

State and federal investigators are cracking down on mortgage scammers, pushing arrests and civil actions to record levels.

MortgageDaily.comtracked 134 mortgage-related lawsuits in the fourth quarter of 2009, an increase of 76 cases compared to the third quarter. There were 46 cases in fourth quarter 2008.

“The upward trend in related fraud litigation is likely to continue,” predicted Patrick McManemin, a partner in Patton Boggs, a law firm that specializes in mortgage litigation, because more states are aggressively enforcing related laws.

Source: MortgageDaily.com (03/08/2010)

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