Advertisement

The Nation - News from Jan. 22, 1986

A federal home mortgage program appears fraught with fraud involving tens of millions of dollars in property loans for which the government could be liable. Housing and Urban Development Department officials, who conducted an investigation last year, said the fraud occurred in several cities and appears to involve a pattern of falsification of loan applications by real estate investors and industry officials, according to the New York Times.

Sign up for Essential California

The most important California stories and recommendations in your inbox every morning.

By continuing, you agree to our Terms of Service and our Privacy Policy.

Advertisement
Advertisement