Articles Tagged with ''Federal Bureau of Investigation''

Feds Bust Huge Alleged Mortgage Fraud Ring

Federal prosecutors unsealed a massive indictment Tuesday afternoon against a huge alleged mortgage fraud ring in San Diego, Calif., charging 24 people with racketeering activity under the Racketeer Influenced and Corrupt Organizations Act (RICO), involving 220 properties with a total sales price of more than $100 million dollars.
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Feds Urge New Lender Record Keeping Requirements

The U.S. Justice Department is urging Congressional leaders to require mortgage lenders and servicers to retain borrower records for up to 10 years, as part of an effort to make it easier to prosecute fraud -- alleging that regulators and law enforcement officials have had a tough time pursuing lenders for wrongdoing because of lax recordkeeping.
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