Some Progress! The DOJ announced a major bust on mortgage fraud, with a nice title too, Operation Stolen Dreams.
The nationwide initiative called Operation Stolen Dreams is the largest collective enforcement effort aimed at confronting the problem of mortgage fraud, Attorney General Eric Holder told a news conference. It involves 1,215 criminal defendants in cases that uncovered more than $2.3 billion in losses.
The Justice Department also has engaged in civil enforcement actions to recover more than $147 million in the operation.
This was the largest criminal action on mortgage fraud in history. From the Department of Justice press conference:
In Miami, just yesterday we unsealed an indictment and arrested two defendants who allegedly targeted the Haitian-American community, often claiming they would assist them with immigration and housing issues, but then instead using victims’ personal information to produce false documents to obtain mortgage loans.
This is just sickening. Mark Gitenstein, a lobbyist for the U.S. Chamber of Commerce, to be nominated to head the Justice Department.
The leading candidate to head the Justice Department office that oversees legal policy and judicial nominations recently has been a lobbyist for several business clients, including the U.S. Chamber of Commerce, and would require a waiver from the Obama administration's recently imposed ethics rules
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