FBI Director Robert Mueller recently briefed the media on the current state of mortgage fraud.

According to an FBI report of the briefing, government investigators currently are examining 14 corporations involved in subprime lending.  The undisclosed companies come from across the financial services industry and include mortgage lenders and investment banks that bundle loans into securities sold to investors.  Some executives also are being investigated for insider trading.

Mueller also told reporters that the number of current open cases— 1,200—is up 40 percent from 2007.  Suspicious activity reports the agency reviews for potential mortgage fraud grew  from 3,000 in fiscal year 2003 to 48,000 in fiscal year 2007.

Mueller added, “Right now, we’re seeing no links to organized crime syndicates, street gangs or terrorist groups in our cases.”

View Freddie Mac the public service announcement "Mortgage Fraud 101" on our Website in English or in Spanish.