Tuesday, September 21, 2010

Miami public hearing to focus on mortgage fraud

Tasked with getting to the bottom of the factors that led to the Great Recession, the Financial Crisis Inquiry Commission is hosting a hearing at Florida International University, focusing specifically on predatory lending and mortgage fraud. The hearing, open to the public, will feature experts in the field of predatory lending, victims of mortgage fraud and law enforcement officials involved in protecting consumers.

``This is the first [hearing] specifically for homeowners,'' said Graham, a member of the 10-person commission created last year. ``I hope they will come away with a better understanding of the pitfalls a potential homeowner or a current homeowner needs to be on the lookout for.''

The commission consists of former politicians, lawyers, business executives, and academics. Created in 2009, the group is gathering information about the wide range of financial missteps that led to the recession, and must report its findings to the President and the public by Dec. 15.

Full story http://twlv.net/f73CMd

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