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Authorities Target Fraud to Help Government Initiative
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May 11, 2009
The only good news on the mortgage fraud front seems to be it uncovered countless fraud schemes and raised awareness to the fact the mortgage industry was loosely regulated by the state and federal governments.
New initiatives to boost fraud investigations and prosecutions are being sought to prepare for President Obama's Making Homes Affordable initiative. The U.S. Department of the Treasury, the U.S. Department of Justice, the Department of Housing and Urban Development, the Federal Trade Commission, and the Attorney General of Illinois are hoping to clean up the industry to allow for better absorption of the President's initiative.
Their efforts are targeting mortgage fraud and loan modification.
Read story at Tampa Bay News
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