Tip of the Mortgage Fraud Iceberg Coming to Light

The LA Times features an article on mortgage fraud. It is often acknowledged that mortgage fraud, along with its cousin appraisal fraud, runs rampant. This is very common during speculative bubbles, and as long as everyone’s making money all but the most blatant fraud is swept under the rug. When boom turns to bust, though, the extent of the misdeeds finally becomes clear. Over the coming years we will be hearing a lot more about fraud in the real estate industry.