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Florida Leads the Country in Mortgage Fraud, Again

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Florida lets get ready to pop some bottles and celebrate, because we're number one! Again! For the fifth straight year! Those other states can't even compete. Ain't got nothing on us here in the Sunshine State. We've got this mortgage fraud game on lock.

Yes, Florida once again led the nation in mortgage fraud. Miami-Dade walks away with the team MVP award too, as 5 percent of all mortgage fraud cases in the nation take place right here.

According to a report released by LexisNexis Mortgage Asset Research Institute, Florida had three times as many reported mortgage fraud and misrepresentation cases based on the number of mortgages filed in 2010. That puts us in the top spot, a dishonor we've held since 2006.

The state also took the top spot for loan investigations for the fourth straight year.

The report says that reported and verified cases of mortgage fraud technically dropped 41 percent nationwide between 2009 and 2010, but the numbers may not be telling the full story.

Explains The St. Petersburg Times:
The report said the drop does not necessarily mean occurrences of mortgage fraud are down. To the contrary, the institute said it believes mortgage fraud cases are still rising according to several industry sources. It attributed the drop, in part, to fewer mortgage loans being made and fewer resources available to investigate and report incidents of fraud.
Miami-Dade county seems to be the state's hot spot for mortgage fraud. Five percent of all cases in the nation happen here. Though, metro Los Angeles represents about 17 percent of all cases, so Miami is far from the top mortgage fraud metro area in the nation.

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6 comments
Miami CFO Fraudster
Miami CFO Fraudster

City of Miami employees get indicted for mortgage fraud.

Larry Spring the CFO takes out a mortgage and then refuses to make any payments.

Miami No-Show job
Miami No-Show job

What's up with Maurice Kemp giving his friend indicted fire union person Veldora Arthur a No-Show job?

Veldora Arthur's No-Show job
Veldora Arthur's No-Show job

City of Miami fire person Veldora Arthur gets indicted for a $11 Million mortgage fraud case and gets to stay home while the taxpayers pay her $240,000 per year.

Fire men indicted
Fire men indicted

Every week another City of Miami fire union member gets indicted for mortgage fraud. How many firemen haven't been caught yet?

$200,000 paychecks and they still steal?

deport them all
deport them all

And who said the cubans had no skills! If only the gulf stream flowed in the opposite direction!!!

anon_e_m00se
anon_e_m00se

2 out of 10 on the funny scale... The Cubans as fraudsters meme has gotten stale at this point.

And, before the xenophobic rant starts back at me you should know I'm a gringo.

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