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Mortgage Fraud News | Fraud Statistics | Fraud Index | Fraud Blog
Mortgage broker, originator and banker criminal cases. Real estate flipping and appraisal fraud. Mortgage fraud prevention, studies and analysis.



Fraud Exceeds $4 Billion in 2007

FraudBlogger Index released

February 4, 2008
(revised July 14, 2008)

By MortgageDaily.com staff


Mortgage fraud activity jumped past $4.0 billion last year -- with California and Ohio leading the way.

During 2007, an estimated $4,004,127,260 in mortgage fraud was identified nationwide by FraudBlogger.com. The activity brought the FraudBlogger Index to 607 (revised from 6550).

The dollar volume was soared from $1,593,572,894 in 2006, when the index stood at 504 (revised from 5020).

The index reflects the number of cases tracked and the dollar amount of those cases.

California accounted for $1.6 billion of last year's activity, with a state index of 680. In 2006, just $0.2 billion in fraud was tracked in the Golden State, when it had a state index of just 380.

New York trailed California, with an estimated $0.6 billion in mortgage fraud identified during 2007. New York's state index was 610.

Ohio had the highest state index level, at 720 last year. During 2006, the Ohio state index was only 370. California had the second highest state index level, followed by New York and Florida, which had a state index of 550.


Mortgage Fraud Activity
2007 and 2006


State
2007
Index Level
2007
$ Amount
2006
Index Level
2006
$ Amount
National - Total 6550 $4,004,127,260 5020 $1,593,572,894
Alaska 70 $8,800,000 20 $4,000,000
Alabama 30 $9,500,000 20 $1,100,000
Arkansas 20 $220,000 40 $2,200,000
Arizona 80 $16,760,000 30 $13,000,000
California 680 $1,584,269,000 380 $208,471,156
Colorado 120 $21,652,990 230 $188,420,000
Connecticut 40 $2,705,000 70 $11,100,000
Delaware 0 0 10 $200,000
Florida 550 $160,900,000 510 $183,367,000
Georgia 380 $203,562,451 320 $70,496,652
Iowa 20 $1,100,000 10 $100,000
Idaho 10 $100,000 0 0
Illinois 320 $77,197,000 210 $57,077,800
Indiana 180 $17,838,964 170 $14,609,000
Kansas 110 $34,500,000 100 $37,000,000
Kentucky 30 $5,700,000 40 $2,180,000
Louisiana 30 $1,700,000 40 $15,100,000
Massachusetts 80 $19,518,000 130 $17,089,000
Maryland 50 $3,836,000 20 $1,200,000
Michigan 110 $12,300,000 110 $15,000,000
Minnesota 250 $154,701,000 10 $400,000
Missouri 460 $154,805,196 230 $78,312,727
Mississippi 180 $11,300,000 100 $19,600,000
Montana 10 $686,000 0 0
Nevada 0 0 30 $520,000
New Jersey 200 $54,600,001 260 $177,034,000
New York 610 $557,136,500 350 $100,045,000
North Carolina 250 $172,167,084 70 $21,600,000
Ohio 720 $318,568,074 370 $141,976,059
Oklahoma 20 $1,135,000 40 $1,609,000
Oregon 40 $6,135,000 70 $8,200,000
Pennsylvania 150 $38,350,000 29 $43,174,000
Rhode Island 0 0 10 $780,000
South Carolina 40 $6,700,000 80 $23,912,000
Tennessee 50 $4,389,000 80 $2,989,500
Texas 240 $98,025,000 290 $96,000,000
Utah 60 $51,900,000 90 $6,650,000
Vermont 0 0 10 $1,000,000
Virginia 100 $19,519,000 20 $660,000
Washington 80 $5,440,000 110 $8,300,000
Washington, D.C. 70 $11,830,000 20 $14,000,000
Wisconsin 40 $5,581,000 10 $100,000
U.S. -multi-state 70 $149,000,000 20 $5,000,000
National - Total 6550 $4,004,127,260 5020 $1,593,572,894

  • The FraudBlogger Index was created by MortgageDaily.com and utilizes mortgage fraud data tracked by FraudBlogger.com.

  • The index reflects active criminal and civil mortgage fraud cases.

  • Cases involving larger dollar amounts are given greater value in the index.

  • Except for the annual report, monthly data may include some overlap but still provides a valuable perspective of the level of fraud activity during a given period.

  • If there were no fraud activity tracked during a given month, the index would be zero.

  • A minimum of $100,000 was used for all cases tracked including when no amount was available. The national total index is an aggregate of all state data.

  • When no data was available on the dollar amount involved, estimates were based on available data such as the number of properties involved, losses to lenders or the number of charges filed.
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Mortgage Fraud Statistics
Government and private data on volume of mortgage fraud activity.



Mortgage Fraud Index
Dollar and index amount by quarter and state.



Mortgage Fraud Litigation
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Mortgage Fraud News
News stories about fraud committed against home lenders.



Mortgage Fraud Blog
Actions in mortgage fraud criminal and civil cases.



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