Feds and States Create Mortgage Fraud Task Force
A group of federal agencies and state attorneys general announced the formation of a new task force aimed at fighting mortgage fraud, according to a New York Times report. The new task force includes the Treasury Department, Justice Department, Federal Trade Commission and Department of Housing and Urban Development, as well as attorneys general of some of the states with the highest foreclosure rates, including Arizona, Nevada, California and Ohio.
According to a press release from the Washington State Attorney General's Office, the task force, which will focus on both business practices and civil rights issues, is co-chaired by Washington Attorney General Rob McKenna and Iowa Attorney General Tom Miller. McKenna said the task force was created during a July 15 meeting in Washington, DC, between several state attorneys general and federal agencies that focused on mortgage enforcement.
This is a Great step in the right direction. One of the worst things a person can do is ruin someone trying to buy a home. We need to be able to trust mortgage companies and everyone else involved in the process.