Suspected Mortgage Fraud

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FinCEN first focused on analyzing trends and patterns related to mortgage fraud in 2002, in the context of an effort to identify areas of potential concern in the sale and management of real estate. In the November 2003 SAR Activity Review – Trends, Tips & Issues, FinCEN announced some of the results of two related FinCEN strategic analytical studies focused on suspicious activity reports (SARs) filed in 2001 and 2002. Since late 2006, FinCEN has published multiple analytical reports to better inform the financial industry and law enforcement about the risks of mortgage loan fraud.

• SARs Regarding Foreclosure Rescue Scams Increase (10/09/2012) HTML | PDF
• FinCEN Reminds Mortgage Companies and Brokers of New Regulatory Requirements (08/16/2012) HTML | PDF
• California, Nevada, Florida Top Mortgage Fraud SAR List (06/26/2012) HTML | PDF
• FinCEN Reports Mortgage Fraud SARs Increased in 2011 even as Fourth Quarter Level Decreased (4/23/2012) HTML | PDF
• Mortgage Loan Fraud Reports of Suspicious Activity Rose in Third Quarter 2011 (3/5/2012) HTML | PDF
• Second Quarter Mortgage Loan Fraud Suspicious Activity Persists (9/28/2011) HTML | PDF
• FinCEN Attributes Increase in Suspicious Activity Reports Involving Mortgage Fraud to Repurchase Demands (06/28/2011) HTML | PDF
• FinCEN’s 2010 Mortgage Fraud Report: SAR Filings Up; Potential Abuse of Bankruptcy Identified (03/28/2011) HTML | PDF
• Third Quarter Reports of Mortgage Fraud Up Slightly (01/06/2011) HTML | PDF
• Mortgage Fraud Suspicious Activity Reports Rise (12/14/2010) HTML | PDF
• Department of Justice/FBI Los Angeles Field Office News Release: Financial Fraud Enforcement Task Force Holds Mortgage Fraud Summit in Los Angeles (9/30/2010) HTML Only
• FinCEN Reports Suspicious Activity Related to Mortgage Fraud in 2009 HTML | PDF
• FinCEN Analysis: Foreclosure Rescue Scam Reports Increase (06/17/2010) HTML | PDF
• FinCEN Warns Lenders to Guard Against Home Equity Conversion Mortgage Fraud Schemes (04/27/2010) HTML | PDF
• Department of Justice News Release: Attorney General Holder, Financial Fraud Enforcement Task Force Announce New Funding Distribution for Enforcement Efforts at Mortgage Fraud Summit in Phoenix (03/25/2010) HTML Only
• Department of Justice News Release: Financial Fraud Enforcement Task Force Hosts Mortgage Fraud Summit in Miami (02/24/2010) HTML Only
• FinCEN Issues Mortgage Loan Fraud Update; Warns of Foreclosure Rescue Scam Techniques (02/18/2010) HTML | PDF
• FinCEN Report Shows Connection With Mortgage Fraud and Other Financial Crime (03/16/2009) HTML | PDF
• FinCEN Mortgage Fraud Report – Growth in Mortgage Repurchases Increases Fraud Detection (02/25/2009) HTML | PDF
• FinCEN Releases Updated Mortgage Fraud Report (04/03/2008) HTML | PDF
• FinCEN Assessment Reveals Suspected Mortgage Loan Fraud Continues to Rise (11/03/2006) HTML | PDF

Reports

• Mortgage Loan Fraud Update: Suspicious Activity Report Filings in the 2nd Quarter 2012 (October 2012) PDF Only
• Mortgage Loan Fraud Update: Suspicious Activity Report Filings in the 1st Quarter 2012 (June 2012) PDF Only
• Mortgage Loan Fraud Update: Suspicious Activity Report Filings in the 4th Quarter and Calendar Year 2011 (April 2012) PDF Only
• Mortgage Loan Fraud Update: Suspicious Activity Report Filings in the 3^rd Quarter 2011 (March 2012) PDF Only
• Mortgage Loan Fraud Update: Suspicious Activity Report Filings in the 2^nd Quarter 2011 (September 2011) PDF Only
• Mortgage Loan Fraud Update: Suspicious Activity Report Filings in 1^st Quarter 2011 (June 2011) PDF Only
• Mortgage Loan Fraud SAR Filings In Fourth Quarter and Calendar Year 2010 (March 2011) PDF Only
• Mortgage Loan Fraud Update: Suspicious Activity Report Filings from July 1, 2010-September 30, 2010 (January 2011) PDF Only
• Mortgage Loan Fraud Update: Suspicious Activity Report Filings from April 1-June 30, 2010 (December 2010) PDF Only
• Mortgage Loan Fraud Update: Suspicious Activity Report Filings from January 1-March 31, 2010 (December 2010) PDF Only
• Mortgage Loan Fraud Update: Suspicious Activity Report Filings from October 1-December 31, 2009 (July 2010) PDF Only
• Mortgage Loan Fraud: Loan Modification and Foreclosure Rescue Scams – Evolving Trends and Patterns in Bank Secrecy Act Reporting (June 2010) PDF Only
• Mortgage Loan Fraud Update: Suspicious Activity Report Filings from July 1-September 30, 2009 (February 2010) PDF Only
• Mortgage Loan Fraud Update (published in The SAR Activity Review - Trends, Tips & Issues [Issue 16, October 2009]) PDF Only
• Mortgage Loan Fraud Connections with Other Financial Crime (March 2009) PDF Only
• Filing Trends in Mortgage Loan Fraud (February 2009) PDF Only
• Mortgage Loan Fraud: An Update of Trends based Upon an Analysis of Suspicious Activity Reports (April 2008) PDF Only
• FinCEN Mortgage Loan Fraud Assessment (November 2006) HTML | PDF

Advisories

• Advisory (FIN-2012-A009) - Suspicious Activity Related to Mortgage Loan Fraud (08/16/2012) HTML | PDF
• Updated Advisory (FIN-2010-A006) to Financial Institutions on Filing Suspicious Activity Reports Regarding Loan Modification/Foreclosure Rescue Scams HTML | PDF

Speeches

• Prepared Remarks of FinCEN Director Jennifer Shasky Calvery, delivered at the Mortgage Bankers Association’s Fraud Issues Conference 2013 (04/15/2013) HTML | PDF
• Prepared Remarks of FinCEN Director James H. Freis, Jr. delivered at the American Association of Residential Mortgage Regulators 23rd Annual Regulatory Conference (08/16/2012) HTML | PDF
• Prepared Remarks of FinCEN Director James H. Freis, Jr. delivered at the Mortgage Bankers Association’s National Fraud Issues Conference 2012 (04/23/2012) HTML | PDF
• Prepared Remarks of FinCEN Director James H. Freis, Jr. delivered at the Mortgage Bankers Association’s National Fraud Issues Conference 2011 (03/28/2011) HTML | PDF
• Prepared Remarks of FinCEN Director James H. Freis, Jr. before the Mortgage Bankers Association of America (03/16/2009) HTML | PDF

Testimony

• Prepared Congressional Testimony of FinCEN Director Freis Regarding Efforts to Combat Mortgage Loan Fraud and Foreclosure Rescue Fraud (05/06/2009) HTML | PDF