Mortgage fraud activity posts first drop in 16 years, falling nearly 30 percent last year

The number of suspicious activity reports from banks citing possible loan fraud decreased by 29% last year, the first drop in 16 years.

Until 2012, mortgage loan fraud was the only suspicious activity report that increased every year, beginning in 1996. The past three years alone accounted for nearly 46% of all instances of potential mortgage fraud in the past decade, the Financial Crimes Enforcement Network said in a report Wednesday.

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