(Note: This is a good one. Recommended for anybody contemplating buying, or who has recently purchased a home)As the government’s head of the investigations in the savings and loan industry collapse of the late 1980s and early 1990s, Kenneth Donohue is no stranger to mortgage fraud.
Today, as inspector general for the Department of Housing and Urban Development, Donohue is looking into fraud and abusive lending practices related to mortgages insured by the Federal Housing Administration.
In the past three years, the roughly 650 investigators and auditors in Donohue's office have conducted 190 audits, developed cases leading to some 1,350 indictments and generated some $1.3 billion in restitution orders.
In an interview with MSNBC.com, Donohue reviewed the scope of his office’s work, the root causes of the jump in fraud and abusive lending practices, and his concerns about proposed changes at the FHA in response to the turmoil in the subprime mortgage market. More ...
Today, as inspector general for the Department of Housing and Urban Development, Donohue is looking into fraud and abusive lending practices related to mortgages insured by the Federal Housing Administration.
In the past three years, the roughly 650 investigators and auditors in Donohue's office have conducted 190 audits, developed cases leading to some 1,350 indictments and generated some $1.3 billion in restitution orders.
In an interview with MSNBC.com, Donohue reviewed the scope of his office’s work, the root causes of the jump in fraud and abusive lending practices, and his concerns about proposed changes at the FHA in response to the turmoil in the subprime mortgage market. More ...
No comments:
Post a Comment