The Real Deal Miami

Feds crack down on mortgage fraud

June 05, 2009 09:51AM

The 65-month prison sentence handed down to mortgage fraudster Jose G. Martin indicates that federal authorities have stepped up prosecutions for mortgage fraud, bad news for South Florida criminals, who are among the nation’s most prolific. Recent legislation gives prosecutors more teeth in fighting mortgage fraud. Average sentences have more than doubled, from 24 months to 50 to 55 months, said Rachel Dollar, a California-based attorney who specializes in fraud recovery litigation. In two years, the section of the U.S. Attorney’s office in Miami charged with economic crimes said, pending investigations have exploded by 600 percent.