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Third Quarter Reports of Mortgage Fraud Up Slightly Mortgage Fraud as Percentage of All SARs Remains Steady

News release: “The Financial Crimes Enforcement Network (FinCEN) today released its third quarter 2010 mortgage fraud report, Mortgage Loan Fraud SAR Filings. The report shows that suspicious activity reports (SARs) characterized by filers as indicating possible mortgage loan fraud (MLF) increased 2 percent to 16,693 in the third quarter of 2010 up from 16,339 MLF SARs in the 2009 third quarter. The report also shows that the total number of SARs for all categories filed during the quarter increased 2 percent to 175,717, up from 172,125 filed in the 2009 third quarter. In all, 9 percent of all SARs filed in the 2010 third quarter indicated MLF as an activity characterization, the same percentage reported in the third quarter of 2009.”

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