http://www.thedestinlog.com/articles/fr ... orida.html
A tumultuous year of record foreclosures is rooted, at least partially, in the rise in mortgage fraud. When housing prices were climbing toward their zenith, it opened the doors for criminals to obtain mortgages illegally in myriad ways. One consultant estimates the national annual losses between $4 billion and $6 billion.
Florida has the nation’s worst problem, according to the Federal Bureau of Investigation. Fort Myers, where the housing downturn is among the worst in the Sunshine State, ranks No. 8 nationwide among cities plagued by misrepresentation to lenders. Recently in Polk County, two men pleaded guilty to illegally receiving $34 million by completing almost 300 fraudulent mortgage applications over two years.
Rapidly rising home prices were one factor that led to the spike in mortgage schemes, leading to a 176 percent jump in mortgage fraud investigations over the past five years by the FBI, which has nearly 40 task forces or working groups focused on the problem.
