According to the Atlanta Business Chronicle October 8-14, 2010 page 22A, and the Financial Crisis Inquiry Commission, at least 13% of mortgages originated between 2005 and 2007 had some element of fraudulent activity.
Apparently, 2 Atlanta zip codes (30310 and 30315) are among the top 10 zip codes for fraud....I think I had heard about these two zip codes a couple of years ago. Also, Georgia ranks 6th in nation in amount of mortgage fraud.
Scariest part of article said the $1 trillion is a low-ball estimate and it could be as high as $4.8 TRILLION!
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