An August 13 AP story on the FBI and its mortgage fraud investigations is deceptive and misleading. That it is published throughout the nation is vexing. The AP, through the FBI, claims mortgage fraud in the billions is continuing, but that it is too hard to stop.
Yes, mortgage fraud continues unabated. Yes it continues to cost the US billions. But, no, mortgage fraud is not hard to catch, not hard to investigate, and not hard to stop. The FBI and the Justice Department have made it a practice to reflect the political will of two administrations to refrain from investigating, indicting, and convicting the nation's largest and most powerful financial institutions for their criminal conduct in committing, aiding, and abetting mortgage fraud.
The average prosecution by the FBI involves low level home buyers, low level brokers, appraisers, and the like. High end
originators, investment banks, and commercial banks have not been touched by Grand Jury investigations and prosecutions.
This article misleads the public into thinking there is some difficulty in proving mortgage fraud. Nothing could be
further from the truth. Readers here and of You the Jury know the details. The AP needs to do better research.