The Real Deal Miami

Florida is top state in mortgage fraud reports

January 06, 2011 02:59PM

Florida ranks first on the Financial Crimes Enforcement Network’s third quarter mortgage fraud report, the South Florida Business Journal reported. The nationwide report shows that suspicious activity reports relating to possible mortgage fraud rose to 16,693 in the third quarter of 2010, up from 16,339 in the third quarter of 2009. The report also shows that the total number of suspicious activity reports for all categories in the third quarter rose 2 percent to 175,717, up from 172,125 filed in the third quarter of 2009. Filers identified more than half of mortgage fraud subjects as borrowers, with California and Florida having the highest number of subjects, followed by New York and Illinois. Based on subjects per capita, Florida and California were first and second, while Nevada and Arizona replaced New York and Illinois as third and fourth. [South Florida Business Journal]