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TUESDAY, MAY 24, 2011

California creates task force to probe mortgage fraud


California's attorney general has formed a new task force to investigate mortgage fraud in the wake of practices that crushed the state's housing industry and led to a wave of foreclosures.

California's attorney general has formed a new task force to investigate mortgage fraud in the wake of practices that crushed the state's housing industry and led to a wave of foreclosures.The task force will be made up of 17 lawyers and eight state Department of Justice special agents who will pursue criminal and civil judgments on a broad spectrum of mortgage fraud cases, from predatory lending and loan modification scams, to fraud involving mortgage-backed securities, Attorney General Kamala Harris said Monday.

"We will work to safeguard the homeowner at every step of the process - from origination of a loan to its securitization, and we will prosecute to the fullest extent of the law those who take advantage of trusting California families," Harris said in a statement.

Read more: http://www.sacbee.com/2011/05/23/3647217/calif-creating-mortgage-task-force.html#ixzz1NJOkrmr6

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