Friday, November 20, 2009

The Sunshine State has been just that for con artists who exploit tax financial regulation and oversight of the mortgage business. ...

The battle against home loan fraud is ongoing and law enforcement should wage it vigorously, putting behind bars the crooks who broke the law and stamped ethical standards into the dirt.

Because mortgage fraud is not a victimless crime. ...

But cracking down on past mortgage fraud alone won't fix what's broken.

What's required are tough regulatory reforms now moving forward in Congress as part of a larger Wall Street overhaul intended to prevent a repeat of financial-sector shenanigans that led to the economic meltdown.

The House is poised in December to pass legislation backed by President Obama to set up a consumer agency that would write new rules to protect homebuyers against deceptive or fraudulent mortgages and watch-guard the firms for compliance.

-- (Melbourne) Florida Today