Tuesday, February 12, 2008
Latest update on suspected mortgage fraud
Some 200 brokers are under investigation by the Financial Services Authority in connection with mortgage fraud. In an exclusive interview with Mortgage Strategy, Philip Robinson, director of financial crime and intelligence at the FSA, revealed this morning that the regulator plans to release the names and enforcement action for those involved in fraudulent dealings next week. Robinson says that repercussions for brokers under investigation will vary depending on the severity of their involvement in the crime. They could range from regulatory reviews to criminal charges.