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How Mortgage Fraud Made the Financial Crisis Worse

© John Gress/Reuters A foreclosed home in Chicago in June. Mortgage fraud is less visible than other kinds of crime but is very costly. The financial crisis was caused in part by widespread fraud, which may seem like an obvious point. But it remains surprisingly controversial.

Mortgage insurance

Q: What is mortgage insurance and why would I need it? A: Most people need to borrow money in order to purchase a home and so they take what is called a mortgage.