Salt Lake City, Utah / August 16, 2006 / Press Release --While
families across the state and around the world hold vigilance for the
recently separated Herrin twins, even more the world's eye remains
steadfast on another breaking story concerning Utah.
On August 15th, media personality and KSL Reporter Shelley Osterloh was
first to report what Perfect Home Living initially warned about in 2005,
that Utah is amongst the Worst in the Nation for Mortgage Fraud.
reporting of Utah's housing market would suggest that Utah is
experiencing phenomenal housing appreciation, the reality is that Utah
has steadily moved into the number two spot in the nation for mortgage
fraud according to the MARI Index.
"Mortgage fraud is a
burgeoning crime that is affecting more companies and communities.
The most recent statistics from the FBI indicate that there was a seven
fold increase in reports of mortgage fraud - from over 3,000 in FY 1999
to almost 22,000 in FY 2005. The FBI also reports that
Federally-regulated institutions alone reported over one billion dollars
in losses due to mortgage fraud in FY 2005," says Jonathan L. Kempner,
President and Chief Executive Officer of Mortgage Asset Research
According to MARI's
Index the top five states for mortgage fraud are: Florida, Utah,
Georgia, Colorado and Illinois.
"KSL's dedication and
concern for Utah and her consumers remains unwavering and it shows by
the network's courage and commitment to bring such an important issue to
the forefront," says Perfect Home Living's CEO and Utah Real Estate
Broker, Sheri Fitzpatrick. "Through the years, KSL Nightly and
Evening News has been the first to report on so many of Utah's important
issues and Shelley's first class reporting has come through once again,"
To view Shelley
Osterloh's story on Utah and mortgage fraud please