Nevada Takes Aim at Mortgage Fraud

DSNews 
October 12, 2009
Bay, Carrie

The Fight Fraud Taskforce was rolled out in Nevada in late 2007 to address concerns about predatory lending and consumer fraud. The taskforce includes representatives of law enforcement agencies, the Internal Revenue Service, the Federal Trade Commission, and other agencies charged with consumer protection. According to Elisabeth Daniels of the Nevada Department of Business and Industry, taskforce chair, the increase in federal incentives for struggling mortgage borrowers has made loan-modification fraud the taskforce's greatest concern. Daniels speaks at community outreach events and holds fraud awareness seminars to educate the public about loan-modification fraud, and the taskforce also has launched a Fight Fraud Web site and a mortgage fraud hotline and collaborates with the Federal Bureau of Investigation to investigate high-level complaints and possible criminal matters. Meanwhile, the state's Foreclosure Taskforce also is turning its attention to loan-modification and foreclosure rescue scams; but it provides assistance to renters whose landlords have defaulted on their mortgages as well. State lawmakers have taken steps to protect consumers, most recently enacting legislation that requires foreclosure and loan modification consultants to obtain licenses from the state's Mortgage Lending Division. Additionally, Nevada Gov. Jim Gibbons is pushing for a new Nevada Crime Commission to offer solutions to mortgage fraud and other "crime problems."

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