The Federal Bureau of Investigation's Washington field office has opened a mortgage fraud task force that will examine residential appraisals and loan practices in the greater Washington, D.C.-Virginia-Maryland metropolitan area.Over the past five years the Washington area has experienced tremendous home price appreciation with some properties doubling in value. A spokesman for the FBI said that on Thursday the agency was hosting a meeting of federal prosecutors that work in the area as well as agents from the Department of Housing and Urban Development and the Internal Revenue Service. The FBI has opened more than 1,200 mortgage-related investigations this year.
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