Sunshine State leads in mortgage fraud

There were more mortgage fraud cases in Florida in the third quarter
than in any other state, according to MortgageDaily.com’s Mortgage Fraud
Index, the South Florida Business Journal reported. Florida had a score
of 170, beating California, which had a score of 153. “The Mortgage
Fraud Index reflects current efforts by law enforcement officials to
prosecute defendants who typically committed mortgage fraud three to
five years ago,” said the site’s founder and publisher, Sam Garcia.
“Many of the recently-opened cases were uncovered by mortgage bankers
who were forced to repurchase the loans.” [SFBJ]