CA, NV A.G.s Join Forces to Probe Mortgage Industry Misconduct
December 19, 2011
California Attorney General Kamala Harris and her counterpart in Nevada, Catherine Cortez Masto, have launched a “joint investigation alliance” into misconduct and fraud in the mortgage industry. The joint probe will combine investigative resources, including litigation strategies, information, and evidence gathered through their respective ongoing investigations, assisting each state as it pursues independent prosecutions, the officials said. “This alliance will link the offices’ civil and criminal enforcement teams, speeding along the full, fair and adequate investigation of wrongdoing in the two states, which have experienced similar foreclosure and mortgage fraud crises,” the AGs said.
The creation of a U.S. sovereign wealth fund could grease the skids for an end to the conservatorships of Fannie Mae and Freddie Mac.
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