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FBI Assistant Director's Testimony Before Senate Committee Covers Mortgage Fraud, Foreclosure Rescue Scams
Federal Bureau of Investigation | December 9, 2009
"I want to thank you for the opportunity to testify before you today about the FBI's ongoing efforts to combat significant financial crimes. As we all know, financial fraud, to include mortgage, corporate, and securities fraud, were not the primary sources of the current financial crisis; collectively however, these frauds have significantly impacted the U.S. housing and financial markets."
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Federal and State Agencies Target Mortgage Relief Scams
Federal Trade Commission | November 24, 2009
Federal Trade Commission Chairman Jon Leibowitz, joined by U.S. Senator Harry Reid, Nevada Attorney General Catherine Cortez Masto, and Assistant Attorney General Tony West of the Civil Division of the U.S. Department of Justice, announced Operation Stolen Hope as part of a continuing federal-state crackdown on alleged mortgage foreclosure rescue and loan modification scams. The operation involves 118 actions by 26 federal and state agencies.
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President Obama Establishes Interagency Financial Fraud Enforcement Task Force
U.S. Dept. of the Treasury | November 17, 2009
Attorney General Eric Holder, Treasury Secretary Tim Geithner, Housing and Urban Development (HUD) Secretary Shaun Donovan, and Securities and Exchange Commission (SEC) Chairwoman Mary Schapiro announced that President Barack Obama has established by Executive Order an interagency Financial Fraud Enforcement Task Force to strengthen efforts to combat financial crime. The task force, which replaces the Corporate Fraud Task Force established in 2002, will build upon efforts already underway to combat mortgage, securities and corporate fraud by increasing coordination and fully utilizing the resources and expertise of the government's law enforcement and regulatory apparatus.
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MARI Issues Quarterly Fraud Report
Mortgage Asset Research Institute-LexisNexis | November 2009
Like Mortgage Asset Research Institute's annual Mortgage Fraud Case Reports to the Mortgage Bankers Association, the Mortgage Asset Research Institute Quarterly Fraud Report is intended to provide industry insight into current and emerging fraud trends, as well as enable awareness of pending mortgage fraud risk. Our quarterly analyses provide more in-depth discussions of fraud types and trends over a shorter period of time. In this analysis of loans originated during the fourth quarter of 2008, we will show that the mortgage fraud landscape is beginning to change as a result of increased industry awareness of and attention to fraud.
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National Campaign Empowers Homeowners to Combat Loan Modification Scams
NeighborWorks America | October 26, 2009
In Los Angeles, a partnership of local, state and national government agencies, nonprofit organizations and financial institutions gathered at City Hall to launch a national public education campaign designed to help homeowners protect themselves against loan modification scams, find trusted help and report illegal activity to authorities. This was the first of several kickoff events scheduled to announce the "Loan Modification Scam Alert" campaign rollout in major cities across the country.
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