Fla. leads country in mortgage fraud cases

NEW YORK – Dec. 14, 2011 – Florida retained its top ranking in the nation for mortgage fraud litigation through September as millions of dollars in bad boom-time loans continue to be discovered by law enforcement and lenders.

A report released Tuesday by industry publication Mortgage Daily showed that Florida’s activity during the third quarter included more than $144 million in suspect loans that were questioned in court.

Florida has held the lead on the index, which tracks such activity as indictments and guilty pleas in criminal and civil cases, since the first quarter of this year.

California ranked second on the activity index, but with more than $204 million in allegedly fraudulent loans, it came in first based on dollar amount.

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