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South Florida, exactly where mortgage mortgage abuses and dubious funding bargains earned Broward County’s biggest town the sobriquet “Fort Frauderdale,” is among the leaders in cleaning up the bubble’s bust. The economic-crimes division with the Miami-Dade Police Department served being a model for your Countrywide Home loan Fraud Job Power inside the U.S. Justice Division, part of a federal reform bundle referred to as the Fraud Enforcement and Restoration Act. The regulations give prosecutors and regulators new techniques to struggle home loan fraud and predatory lending. Glenn Theobald, the police department’s chief counsel, said that till 2007, property finance loan fraud wasn’t even defined by condition law Glenn Theobald.