Arizona Attorney General Eric Holder announced Thursday in downtown Phoenix that the state will receive $1.7m this spring to combat mortgage fraud – a prolific problem during the real estate boom that grew following the crash and ensuing recession. The sum is more than 20% of the federal funds allocated by President Barack Obama to investigate and prosecute white collar criminals who continue to rip off uneducated consumers, costing the state millions in losses in the private sector, while fueling the foreclosure crises in one of the hardest hit cities in the country. “I’m confident that these new investments will allow us to build on the recent success we’ve seen across the country and the progress that’s been made here in Arizona,” said Holder, who was among the many high profile representatives of the Financial Fraud Enforcement Task Force, which met in Phoenix for the second of a series of Mortgage Fraud Summits.
Arizona gets $1.7m of fed’s mortgage fraud money
Most Popular Articles
Latest Articles
Mortgage demand slumps as interest rates move higher: MBA
Purchase application volume fell by 1% while refi applications were down 6%
-
Special report: The brokerages gaining or losing market share in Dallas
-
Technology’s role in rental property investment market
-
Best real estate continuing education schools for quick and easy license renewal in 2024
-
CoStar Group finds success through the sale of Homes.com memberships
-
Kevin Sears pulls back the curtain on NAR’s commission lawsuit settlement