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Florida leads the nation in mortgage fraud

by Mike on August 25, 2008

A new report claims that Florida leads the nation in mortgage fraud.

In fact, 24 percent of fraudulent loans reported to the [Mortgage Asset Research Institute] during the first quarter originated on properties in Florida.

The most common kind of fraud was application fraud, including misstating income and false identification. I wonder how many of those involved were brokers with criminal records?

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