Friday, October 17, 2008

Mortgage fraud: New and improved

"The housing bust has not ended mortgage fraud - hucksters are just finding new ways to make dishonest bucks.

The number of fraudulent loans issued during the second quarter this year increased 45%, compared with the same period in 2007, according to the Mortgage Asset Research Institute (MARI), a service of LexisNexis.

The group counts as fraud any misrepresentation intended to get a better deal on a mortgage or a home sale."

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Mortgage fraud: New and improved

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