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Easter Show-Bunnies? Colored Eggs? Nope! LOAN FRAUD,SCAMS,Shark Alerts!

Sonoma County,California Homeowners! Beaware of those “Shark Alerts” and those folks who will scam you and take a big bite out of your wallet.

From the FBI–Just the Facts: Mortgage Fraud Statistics

– Estimated Annual Losses: $4 billion to $6 billion (Source: The Prieston Group)
– Total Suspicious Activity Reports in Fiscal Year 2010:  70,533  with more than $3.2 billion in losses
– FBI Mortgage Fraud Task Forces/Working Groups: 94
– Pending Investigations (through 02/28/11):  3,020 with 72 percent involving losses of more than $1 million
– Cases opened in FY 2011 (as of 2/28/2011): 245

 Cases opened in FY 2011 (as of 2/28/2011): 245
– Successes in FY 2010:1,531 indictments/informations; 970 convictions
– States with Significant Mortgage Fraud Problems in 2009 (latest year stats are available): 1. Rhode Island 2. Florida 3. Illinois 4. Georgia 5. Maryland 6. New York 7. Michigan 8. California 9. Missouri 10. Colorado (Source: Mortgage Asset Research Institute)

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