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Mortgage Fraud Likely to Feature in 2010 Budget

The budget plan for the year 2010 is likely to increase resources for the government agencies, such as the Department of Housing and Urban Development and the Federal Bureau of Investigation (FBI) to clamp down on the rising phenomena of mortgage fraud. The provision would also make available more funds for affordable housing in the US.

Mortgage fraud increased by 44 percent in the last year, which is a concern for the Obama administration. The budget, details of which will only be released in April, is expected to provide additional support to Financial Crimes Enforcement Network, according to a reliable source.

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