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Operation Quick Flip: Finally Someone Gets Serious And May Actually Do Something About Mortgage Fraud

The FBI provided a press release today concerning [Quick Flip] [FBI] [1]

Operation Quick Flip is designed to show that federal law enforcement recognizes the mortgage fraud threat.

This is great news!

Mortgage Fraud is one of the fastest growing white collar crimes in the United States.

“Mortgage Fraud is defined as a material misstatement, misrepresentation, or omission relied upon by an underwriter or lender to fund, purchase, or insure a loan.

There are two types of Mortgage Fraud: fraud for property and fraud for profit:

The hot spots for Mortgage Fraud activity in 2004 (per capita) were: California, Nevada, Utah, Arizona, Colorado, Missouri, Illinois, Maryland, Georgia, and Florida.