Congress Funds Mortgage Fraud Crackdown

It may not have made a big splash on network news or in print, but for real estate it was the equivalent of a congressional declaration of war against mortgage fraud. Just as security and intelligence agencies were given huge funding boosts by Congress after 9/11, the FBI, the Justice Department, the Secret Service, and the U.S. Postal Service have just gotten a combined $500 million in new funding authority to investigate and prosecute individuals and companies who engage in mortgage fraud. President Obama signed the legislation May 20. Click Here to read the rest of Kenneth R. Harney’s story in the Los Angeles Times.

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