The Real Deal Miami

Prosecutors charge 112 people for mortgage fraud

October 01, 2008 03:29PM

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.