Mortgage fraud resulted in losses of $545.9 million during the first half, and the losses are on track to outpace last year's total, according to newly released government figures.According to the Federal Bureau of Investigation, mortgage fraud losses totaled $1 billion in fiscal 2005, more than double that of the year before. Financial institutions engaged in mortgage activity filed close to 17,000 suspicious activity reports with the FBI during the first half. In 2005, 21,994 SARs were filed. (For more details, see the Oct. 2 issue of National Mortgage News.)
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