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As we continue our recovery and cleanup efforts, please visit the Emergency website for the latest information on openings and closings in Miami-Dade County.

Mortgage Fraud

Fraud is one of the most prevalent forms of crime in today's society. According the Federal Bureau of Investigations 2007 Mortgage Fraud Report, the state of Florida is among the top 10 mortgage fraud areas in the country. Miami-Dade County leads the state in fraud loans.

Mortgage Fraud is defined as a material misstatement, misrepresentation or omission relied upon by an underwriter or lender to fund, purchase or insure a loan. There are two types of Mortgage Fraud: fraud for property and fraud for profit. Fraud for property, also known as fraud for housing, usually involves the borrower as the perpetrator on a single loan. Fraud for profit involves industry professionals. There are generally multiple loan transactions with several financial institutions involved.

Back to Top Page Last Edited: Tue Jun 27, 2017 12:09:28 PM
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