FBI Issues 2008 Mortgage Fraud Report, Says Losses of $1.4 Billion.

Report page is HERE. Excerpt:

"[Suspicious Activity Reports] SAR mortgage fraud filings from financial institutions increased 36 percent to 63,713 during Fiscal Year (FY) 2008 compared to 46,717 filings in FY 2007. The total dollar loss attributed to mortgage fraud is unknown; however, at least 63 percent (1,035) of all pending FBI mortgage fraud investigations during FY 2008 involved dollar losses totaling more than $1 million....SARs reported in FY 2008 revealed losses of more than $1.4 billion, an increase of 83.4 percent from FY 2007 (see Figure 2). Additionally, SAR losses reported in the first six months of FY 2009 exceed the same period in FY 2008 by $208 million."