Wednesday, June 18, 2008

Mortgage fraud investigation nets 700 - Jun. 19, 2008


WASHINGTON (CNN) -- More than 700 people have been arrested over mortgage fraud as part of an investigation by the FBI and Justice Department that has been going on since March 1, a government official told CNN Thursday.


Losses in the fraud cases total about $1 billion, the official said.


The official refused to be named because the results of the investigation have not been announced publicly. 


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[Via Home Mortgage Rates and Real Estate News]


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