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FBI: Mortgage fraud still prevalent, hard to catch

When Apartment Rents Climb, Landlords Can Say ‘The Computer Did It’

WASHINGTON — Mortgage fraud remains widespread in the depressed housing market, with perpetrators motivated by high profits and little risk of getting caught, the FBI said Friday.

A sign announces a pending residential home sale in Wayland, Mass., on Aug. 10, 2011...

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Bill Sikes, AP

A sign announces a pending residential home sale in Wayland, Mass., on Aug. 10, 2011.

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The FBI's annual report on mortgage fraud said such schemes are particularly resilient and hard to discover, and their total cost is unknown. Real estate firm CoreLogic says more than $10 billion in loans were made with fraudulent application data in 2010, the report noted.

That's the picture painted by new housing data released this week by the U.S. Census Bureau.

From 2000 to 2010 the supply of new housing units outpaced demand by 50 percent in the four largest metro Atlanta counties (Fulton, Gwinnett, DeKalb and Cobb)..... (ajc.com - Atlanta Journal-Constitution)

The lease renewal notices that landlords send out annually have contained little good news for renters in recent years: Rents are up and vacancies down around the country. And having resigned themselves to paying more, renters may wonder whether the new number on their lease was plucked out of thin air.

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