State Wants Mortgage Practices Examined

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Sierra Vista Herald  
March 11, 2010
Fischer, Howard

Arizona Attorney General Terry Goddard is under fire for retaining the Washington, D.C.-based law firm of Cohen Milstein Sellers & Toll to investigate predatory lending practices by home builders and their mortgage companies. The agreement will give the legal practice up to 20 percent of the money recovered from the firms under investigation. Pulte Homes and Pulte Mortgage have filed a lawsuit against Goddard for allegedly violating their constitutional rights by hiring the firm, which has ties to a major labor union and could pass on information uncovered during the investigation. According to Arizona Assistant Attorney General Susan Segal, consumer complaints about Pulte's lending practices triggered the investigation.
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