"FBI Director Robert Mueller on Wednesday described a 'tremendous surge' in mortgage fraud investigations that he said has diverted agents from other cases and is expected to keep growing.
At a Senate hearing, Mueller said the FBI is investigating an estimated 1,300 mortgage fraud cases - including 19 into sub-prime lending practices by U.S. financial institutions.
That's up from three months ago, when FBI officials said they were investigating 14 companies for possible fraud or insider trading violations in connection with loans made to risky borrowers, and investments spun off of those loans."
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FBI sees surge in mortgage fraud investigations
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