FBI sets up mortgage fraud team, uses wiretaps

* FBI uses computer technology, undercover operations

* 2,400 mortgage fraud cases, 560 corporate fraud probes

* FBI, SEC chiefs meet to better coordinate investigations

By James Vicini

WASHINGTON, May 20 (Reuters) - A recently created FBI team is setting priorities on mortgage fraud investigations, and the bureau is using undercover operations, wiretaps and computer technology to get evidence of economic crimes, the agency's chief said on Wednesday.

FBI Director Robert Mueller told a House Judiciary Committee hearing that the agency in December created the National Mortgage Fraud Team at headquarters to assist field offices in their pending investigations.

In his prepared remarks submitted to the committee and in his actual comments, Mueller said the team also is helping to identify the worst mortgage fraud perpetrators and to evaluate where additional FBI employees are needed.

The FBI's mortgage fraud caseload has tripled in the past three years to more than 2,400 cases, Mueller said.

In addition, the FBI has more than 560 open corporate fraud investigations, including matters directly related to the current financial crisis, he said. The FBI has declined to identify any companies under criminal investigation.