Treasury says mortgage fraud reports up 42% in 2007

"Reports of suspected mortgage fraud rose 42% last year as banks became more leery of lies on loan applications.

The Treasury Department's Financial Crimes Enforcement Network said Thursday that there were 52,868 reports for mortgage fraud in 2007, up from 37,313 a year earlier. Mortgage fraud reports were the third-most common type of suspicious activity."

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Treasury says mortgage fraud reports up 42% in 2007