It appears that there is a new national task force to combat mortgage fraud. DOJ is teaming up with HUD, Treasury, and the FTC, as well as a number of state Attorneys General to investigate and prosecute mortgage fraud.
Perhaps I’m slow, but I thought there was already a big task force combating mortgage fraud as a result of the last housing bubble.
The difference, if you read the article carefully, must be that this task force is focusing on “bogus foreclosure rescue” schemes. It’s much more of a housing market collapse mortgage fraud task force, as opposed to the prior mortgage fraud task force which focused on schemes from when real estate prices were high.
That’s a relief. I’d hate to think that prosecutors are doubling up their efforts just so they could issue press releases.
If you have questions about how federal criminal charges are different than state criminal charges, please visit this page on Maryland federal criminal charges or Washington DC federal criminal charges.