Breaking News: U.S. investigating possible criminal violations in foreclosure crisis

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Breaking News: U.S. investigating possible criminal violations in foreclosure crisis

Breaking News: U.S. investigating possible criminal violations in foreclosure crisis

Task force probing whether banks broke federal laws during home seizures

Washington Post Staff Writer
Tuesday, October 19, 2010; 3:10 PM

Federal law enforcement officials are investigating possible criminal violations in connection with the national foreclosure crisis, examining whether financial firms broke federal laws when they filed fraudulent court documents to seize people’s homes, according to people familiar with the matter.

The Obama administration’s Financial Fraud Enforcement Task Force is in the early stages of an investigation into whether banks and other companies that submitted flawed paperwork in state foreclosure proceedings may also have misled federal housing agencies, which now own or insure a majority of home loans, according to these sources.

The task force, which includes investigators from the Justice Department, Department of Housing and Urban Development and other agencies, is also looking into whether the submission of flawed paperwork during the foreclosure process violated mail or wire fraud laws. Financial fraud cases often involve these statutes.

Continue reading …WASHINGTON POST

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