Apparently So. Recently President Obama signed the Fraud Enforcement and Recovery Act. It also expands the justice department’s authority to prosecute mortgage fraud. See report from
CNBC
available at .
Mortgage Daily News
With the current housing and financing situation in the US, it is not surprising that some have resorted to fraud. It is things like this that give the industry as a whole a bad name and I do not pity those who are involved. The need to be dealt with and I hope they get what is coming to them. The quicker we can take the trash out, the quicker the markets will start stabilize.