IA forming mortgage fraud task force - KWWL - Eastern Iowa Breaking News, Weather, Closings

IA forming mortgage fraud task force

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DES MOINES (AP) -- State and federal prosecutors in Iowa have announced a new task force aimed at mortgage fraud, saying it will bring criminal penalties into the enforcement effort.  The announcement came at a news conference on Monday in Des Moines with U.S. Attorney Nicholas Klinefeldt and Iowa State Attorney General Tom Miller.

Miller says much of his efforts on mortgage fraud have been in the civil arena, and adding criminal penalties will make enforcement more effective.

Agencies involved include the FBI, the Internal Revenue Service and the Social Security Administration.  While the problem in Iowa is not as large as other states, it does exist.  Officials say it ranges from falsifying income to multiple loans against a property.

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