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| FBI holds 300 for mortgage fraud | |
| (10 minutes later) | |
| The FBI says it has arrested about 300 property market players as part of its crackdown on mortgage fraud. | The FBI says it has arrested about 300 property market players as part of its crackdown on mortgage fraud. |
| The arrests include estate agents and loan originators, who help homebuyers to take out loans. | The arrests include estate agents and loan originators, who help homebuyers to take out loans. |
| Reported mortgage fraud has soared in the past year, with the most common type being mis-statement of assets. | |
| Earlier in the day, two former Bear Stearns managers in New York were arrested following the collapse of a fund linked to sub-prime mortgages. | Earlier in the day, two former Bear Stearns managers in New York were arrested following the collapse of a fund linked to sub-prime mortgages. |