February 5, 2010

ATLANTA -- The Georgia Bureau of Investigation could soon get the power to investigate allegations of mortgage fraud under a new proposal being pitched by Gov. Sonny Perdue.

State Sen. Bill Cowsert, one of the governor's floor leaders in the Senate, has introduced legislation that would create a special unit from the GBI, the Department of Banking and Finance and local law enforcement to investigate mortgage fraud crimes.

Supporters of the measure say Georgia currently ranks fourth nationwide for mortgage fraud. Mortgage fraud referrals cost the state an estimated $144 million between 2005 and 2008.

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