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Mortgage Fraud Task Force

The Associated Press reported Monday afternoon that Attorney Generals located in Washington state, Iowa, Arizona, Colorado, Illinois, Nevada, North Carolina, Massachusetts, Missouri and Ohio are forming a task force to investigate mortgage fraud along with representatives of the Department of Justice, Federal Tresury, Department of Housing and Urban Development, and the Federal Trade Commission. 

This is a significant first step to arresting practices detrimental to the industry as a whole such as equity skimming, false foreclosure rescue offers, straw purchase deals and unethical and/or predatory lending practices.

We will keep you aprised of developments surrounding this effort to correct and curtail wrongdoing in the mortgage industry.

This entry was posted on Thursday, August 27th, 2009 at 9:35 am and is filed under Mortgage Process, Consumer Alerts, Regulation. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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