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Mortgage Lender Fraud Abounds

In the four years ending last September, The Federal Bureau of Investigation's "Operation Continued Action" identified more than 245 subjects in 158 investigations of financial institution fraud. These investigations resulted in 11,466 indictments, 11,362 convictions, and $8.1 billion in restitution orders. While many of the instances of fraud against lenders are small in scope, financial institution fraud is a very big deal. The FBI recently tallied the results of some of the fraud it is investigating.

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