10000 Criminals commit mortgage fraud in Florida

From 2000 to 2007 Florida has witnessed about 10,000 criminals being permitted to work in Florida's mortgage industry and reports are that they've committed frauds worth $85 million.

The state agency that allowed such criminals to be a part of the industry is the Office of Financial Regulation which didn't follow a 2006 law that required screening of mortgage brokers prior to providing them with a license.