Mortgage fraud cases surged last quarter as the Obama administration stepped up its efforts with its Operation Stolen Dreams program, according to a new report from MortgageDaily.com. The site counted 266 active mortgage fraud cases worth a total of $2.25 billion in the second quarter, up from 172 cases worth $1.92 billion one quarter earlier. During the second quarter of last year, there were 195 cases worth $1.61 billion. New York had the fourth-highest mortgage fraud index for the second quarter of 2010 — which is based upon both dollar amount and number of active cases — in the country. With $80.6 million in active cases, the state ranked behind California (No. 1 with $435.8 million); Florida (No. 2 with $146.7 million); and Pennsylvania (No. 3 with $263.6 million). TRD
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U.S. mortgage fraud cases rise 35 percent
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