Posted: Oct 5, 2010 1:10 PM by Bea Karnes
Colorado ranked tenth among the 50 states in mortgage fraud in 2008, and first in 2006, according to the Mortgage Asset Research Institute. Colorado was first among the states in mortgage fraud in 2006.
The Colorado Bureau of Investigation plans to crack-down on mortgage fraud by adding six new fraud unit positions utilizing a $1.7 million grant from the U.S. Department of Justice,
CBI Director Ronald C. Sloan said, "Despite a more stabilized, although weak, economy recently, Colorado continues to be plagued by a high incidence of mortgage fraud. Colorado remains among the top states for mortgage fraud during the past four years. CBI intends to pursue aggressively those who perpetrate fraud with these new resources."
The grant runs for two years.
Joining the CBI mortgage fraud effort are the Denver office of the FBI and several state and local agencies.