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“The number of referrals has been overwhelming, with more than 346 referrals to date,” says the report, an update on the special unit approved last year. ”The vast majority of referrals have been direct from victims or real estate professionals to the District Attorney’s Office.”
A “significant number” of cases involve loan modification schemes.
Several cases were cited, including one in which 3 men were charged with 101 counts of real estate fraud in a loan mod scheme that “generated millions of dollars in boiler room loan modification receipts. Victims lost their homes to foreclosure after paying up-front fees.”
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