Real Estate @ Mortgage Fraud Statistics

Mortgage Fraud Statistics

According to the Federal Bureau of Investigation (FBI), which earlier this month issued yet another Mortgage Fraud Advisory, here are the latest Real Estate Fraud statistics:

Estimated Annual Losses: $4 billion to $6 billion

Total Mortgage Fraud Suspicious Activity Reports in Fiscal Year 2007: 46,717, with $813 million in losses

Total FBI Mortgage Fraud Task Forces/Working Groups (June 2008):
42

Pending FBI Mortgage Fraud Investigations (May 2008):
1,380

Cases opened in Fiscal Year 2007:
462 (compared to 295 in Fiscal Year 2003)

Successes in Fiscal Year 2007:
321 indictments/informations; 260 convictions

States with Significant Mortgage Fraud problems in 2008:

Florida
Nevada
Michigan "my State"
California
Utah
Georgia
Virginia
Illinois
New York
Minnesota

Ralph R. Roberts, CRS, GRI
Ralph Roberts Realty
67775 Van Dyke
Washington Township, MI 48095
Office: (586) 751-0000
Fax: (586) 752-8959
Email: RalphRoberts@RalphRoberts.com
Personal Assistant: Lois Maljak (LoisMaljak@RalphRoberts.com )

Ralph Roberts is the author of many books, including:
- Power Teams: A Guide to Building and Managing Winning Real Estate Agent Teams (RISMedia)
- Foreclosure Self-Defense For Dummies (Wiley Publishing)
- Mortgage Myths: 77 Secrets to Save on Home Financing (Wiley Publishing)
- Advanced Selling For Dummies (Wiley Publishing)
- Protect Yourself from Real Estate & Mortgage Fraud (Kaplan Publishing)
- Foreclosure Investing For Dummies (Wiley Publishing)
- Flipping Houses For Dummies (Wiley Publishing)

Ralph Roberts maintains a number of popular Websites and Blogs, including:
- www.RalphRoberts.com (Ralph's real estate company)
- www.FlippingFrenzy.com (Ralph's blog about Real Estate & Mortgage Fraud)
- www.AboutRalph.com (Where anyone can learn more about Ralph)
- www.ForeclosureSelfDefense.com (Info about Foreclosure Self-Defense)
- www.GetFlipping.com (A resource for house flippers)
- www.PowerfulSelling.com (Sell tips, strategies and warnings)
- www.KolleenRoberts.com (A tribute site to Ralph's daughter)