U.S. Rep. Kendrick B. Meek Introduces Legislation for a Nationwide Mortgage Fraud Task Force within the Federal Bureau of Investigation

Press Release

U.S. Rep. Kendrick Meek (D-FL) introduced H.R. 6853, legislation that will establish a Nationwide Mortgage Fraud Task Force to address mortgage fraud in the United States.

Mortgage fraud is one of the fastest growing white collar crimes in the United States According to FBI statistics, the number of reported mortgage fraud cases more than doubled from 17,127 in 2004 to 46,717 in 2007. In addition, the FBI reports that the dollar amount of mortgage fraud is well into the billions.

"This bill will establish a nationwide Task Force to reduce mortgage fraud and prevent victimization of individuals and businesses through effective education, legislation, regulation, law enforcement and prosecution," said Congressman Kendrick Meek. "In South Florida especially, the housing market meltdown has resulted in an explosion of foreclosures and mortgage fraud. This Task Force will go after the perpetrators who have defrauded so many people in our communities."

The Task Force will operate under the direction of the FBI. The Director of the FBI will provide the Task Force with the appropriate staff, administrative support, and other resources, and appoint a staff member of the Task Force to be the Executive Director. The Task Force will have many functions, both mandatory and optional, including getting the voluntary participation of Federal, State and local law enforcement and prosecutorial agencies to organize initiatives to address mortgage fraud, including initiatives to enforce State mortgage fraud laws.

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