Word: mortgagees
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Dates: during 2000-2009
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A big problem the feds face is that the housing crash has created a whole new slew of cases. The first stage of fraud, which helped bring about the crisis, is now being followed by a second as people scheme to buy up foreclosed homes and other properties whose prices...
The Capital Force case is one of the largest mortgage frauds to date in Florida, but it's just the tip of an iceberg of scams that have wrecked broad swaths of the state's reeling housing and commercial real estate market. The situation is worst along the I-4...
For too long in Florida and the U.S., however, it seemed as though the swindlers were indeed getting away with it. As early as 2004, at the height of the housing frenzy, FBI officials were warning Congress of a mortgage fraud catastrophe: firms like Capital Force were illegally "flipping" properties...
Now that digging the country out of its economic sinkhole has become an issue of national security, the feds are straining to play catch-up. FBI Director Robert Mueller told Congress last month that his agents are currently working more than 2,000 mortgage fraud investigations, compared to only 295...
Florida officials are making their own surge, which is only fitting given that appallingly lax state oversight earlier in the decade allowed just about any crook to become a mortgage broker. Five people were busted in Miami on Thursday in a $4.5 million straw buyer scam. Florida Attorney General Bill...