ATLANTA -- Foreclosed property sales jumped from 500 in 2006 to2,600 in 2008 said CUNA Mutual Group's Commercial InsuranceDivision Senior Vice President Jack Goodwin.

The astronomical increase recently led CUNA Mutual to partnerwith Lee & Mason Financial Services Inc. to offer a commercialforeclosure property and liability insurance policy for creditunions' member business loans. Credit unions will be able to bettermanage risks associated with owning an increasing number offoreclosed commercial properties, the company said.

"Fraud has no geographical boundaries," said Goodwin at NCUA'sRisk Mitigation Summit last week. "Complacency can be dangerous andexpensive."

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