Sadly, Utah #1 in mortgage fraud - Utah Home Loans

Utah is #1 in mortgage fraud, and I work in Utah as a mortgage broker, Tuesday I met with the President of the Utah Division of Real Estate, Derek Miller, and its chief fraud investigator, Dee Johnson, it was sad to hear that Utah is again #1.  MARI provided the data to our DRE on fraud; however, the report did include one statistic I was not expecting.  The report stated nearly 70% of the fraud was committed by people outside of the DRE's jurisdiction.  What does that mean? It means that nearly 70% of the fraud is being committed by bank LO's and the general public:  Not mortgage brokers, not appraisers, and not real estate agents. I suspect a few of the guilty had previously had licenses, but I am sure that is the exception not the rule. 

Bottom line, my industry is cleaner than I though, but it still has a long way to go.