Ney Subcommittee to Look into Mortgage Fraud
WASHINGTON - Rep. Robert Ney (R-Ohio), chairman of the Subcommittee on Housing and Community Opportunity, called a hearing for Oct. 7 on "Mortgage Fraud and its Impact on Mortgage Lenders." Members of the Subcommittee are expected to hear testimony from eight witnesses on how mortgage fraud impacts lenders and ultimately the mortgage market. On Sept. 17, the FBI reported the largest nationwide operation in its history directed at perpetrators of mortgage fraud. The FBI reported last month that the number of mortgage fraud cases under investigation this year is five times over the number reported three years ago. Ney said the hearing "is another important step as we attempt to find common ground with comprehensive solutions to the problem of abusive lending."