The Real Deal Miami

Florida continues to lead United States in mortgage fraud: report

June 25, 2012 11:15AM

Florida has maintained the top spot in Mortgage Daily’s national rankings of mortgage fraud, the South Florida Business Journal reported. There was a total of $260 million in mortgage fraud reported in Florida in the first quarter, the fourth time in the past five quarters that the Sunshine State has topped the list. “Activity has been fairly consistent as smaller mortgage bankers hit with repurchases continue to uncover fraud committed during the housing boom years,” Mortgage Daily Founder Sam Garcia said. “We continue to see a correlation between elevated fraud levels and foreclosures in states like Arizona, California and Florida.” [SFBJ]