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FBI Says Mortgage Fraud Probes Increase More Than 300 Percent

The FBI had more than 3,000 pending mortgage fraud investigations last fiscal year, up more than 300 percent from 2005, said FBI Director Robert Mueller.

The number of investigations in fiscal year 2010 is up from 700 cases in fiscal 2005, Mueller said in prepared testimony. Mueller is testifying before the Senate Judiciary Committee.

To contact the reporter on this story: Justin Blum in Washington at jblum4@bloomberg.net

To contact the editor responsible for this story: Mark Silva at msilva34@bloomberg.net

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