'Operation Stolen Dreams': DOJ Arrests Nearly 500 In Mortgage Fraud Crackdown

[vaberella]

Source: Huffington Post

WASHINGTON — The Justice Department announced Thursday that investigators have made nearly 500 arrests since March in a major crackdown on mortgage fraud.

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.

Two Countrywide companies will pay $108 million to settle allegations that they inflated the fees that homeowners paid.

Read more: http://www.huffingtonpost.com/2010/06/17/operation-stolen-dreams-d_n_615798.html

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Good stuff. Because people aren't shouting from the rooftops, doesn't means things aren't getting done.

-Apologies if this was posted already.

[yellerpup]

1. Greatest page for you.

good news. :kick:

[vaberella]

2. I'm really excited too. n/t

[Po_d Mainiac]

3. Amazing what happens if agents are assigned to white collar crime

:kick:

[jgraz]

4. Why isn't the administration touting this? Most people would be cheering.

Anyone have any idea why they wouldn't be "shouting from the rooftops"? Seems like nothing but win.

[w4rma]

5. Extremely good. (nt)