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South Florida

Prosecutors charge 112 people for mortgage fraud

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Federal prosecutors in South Florida have charged 112 people, including mortgage brokers, real estate appraisers, and bank employees, in a mortgage
fraud investigation that began in September 2007. The fraud involved
loans worth more than $176 million. Nearly a quarter of the country’s
fraudulent mortgage loans are issued in Florida, the highest mortgage fraud rate in the country, industry groups found.