The US Federal Bureau of Investigation (FBI) says more arrests are on the cards as part of its continuing investigation into mortgage fraud.
Over 400 mortgage brokers and real estate professionals have already been taken into custody as part of the Bureau's investigation, a number one senior official described as "a good start". Now the agency plans to further investigate corporate and mortgage related fraud in the coming months. Lisa Osofsky ex-Deputy General Counsel for the FBI, believes the arrests are a positive development for borrowers and the industry. “The US focus on forfeiture and asset seizure is admirable,” she says. “Crimes like this damage the whole financial services industry and mean mortgages are more expens...
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