Detroit Feds Hit Big In Nationwide FBI Mortgage Fraud Probe

In Detroit, Michigan, Crain's Detroit Business reports:

• Two of the metro Detroit cases that are part of a major federal bust of mortgage fraud schemes in Michigan accounted for more than half — $25.4 million — of the $50 million in losses linked to the cases. U.S. Attorney Stephen Murphy reported Thursday that his office had charged 28 people in 15 separate criminal cases since March with mortgage fraud that led to the losses, mostly to financial institutions.

For more, see Mortgage fraud bust shows improved rules, enforcement.

Go here for U. S Attorney's press release.