David Saks: This Will Blow You Away

David Saks - Real Estate Broker - The Real Estate Mart of Tennessee, Inc. - 4040 North Watkins-Suite #4 - Memphis, Tennessee 38127 - Phone (901) 357-4663

This Will Blow You Away

One of the ways the FBI becomes aware of mortgage fraud is through the analysis of suspicious activity reports (SARs), which are filed by federally insured financial institutions.

Mortgage fraud SARs have increased from 6,936 in FY 2003 to 93,508 in FY 2011.

SAR's have increased  approximately 13.5 times in 8 years.

DAMN !

These SARs provide valuable intelligence in mortgage fraud trends and can lead to the initiation of mortgage fraud cases as well as the enhancement of current FBI investigations. 

Number of Mortgage Fraud.jpg

Dollar Losses (in Millions.jpg

Note: Of those SARs that report a dollar loss, approximately 82 percent do not contain a dollar loss amount.

Graphs and info courtesy FBI




David Saks



Time&Temp Memphis

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Comment balloon 4 commentsDavid Saks • February 28 2012 08:10AM

Comments

At least they have a way to track them..Very helpful info David

Posted by Hannah Williams, Expertise NE Philadelphia & Bucks 215-953-8818 (Re/Max Eastern inc.) almost 8 years ago

I wonder, Hannah, with nearly 14 times increased SAR's in less than 8 years.

Posted by David Saks ((retired)) almost 8 years ago
Greetings! Quick question that's clpeomtely off topic. Do you know how to make your site mobile friendly? My website looks weird when viewing from my iphone. I'm trying to find a template or plugin that might be able to correct this issue. If you have any recommendations, please share. Many thanks!
Posted by Oliver over 7 years ago
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Posted by gqeqhw over 7 years ago

This blog does not allow anonymous comments