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posted on March 31, 2008
Report: Losses Resulting from Mortgage Fraud in the U.S. Will Reach $2.5 Billion in 2008
Falling home prices and inappropriate mortgage underwriting have grabbed the headlines and much of the blame for mortgage credit woes in recent months. But the significant rise in mortgage fraud during the past 10 years is another important trend. New research from TowerGroup predicts that losses from mortgage fraud will reach $2.5 billion in 2008 and that comparable losses will continue for several years thereafter.
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