South Florida fraud fighters provide countrywide model3862862

South Florida, exactly where home loan loan abuses and doubtful financing promotions earned Broward County’s biggest city the sobriquet “Fort Frauderdale,” is now one of the leaders in cleaning up the bubble’s bust. The economic-crimes division from the Miami-Dade Police Department served for a design to the National Home loan Fraud Endeavor Drive within the U.S. Justice Division, part of a federal reform deal called the Fraud Enforcement and Restoration Act. The legal guidelines give prosecutors and regulators new techniques to struggle property finance loan fraud and predatory lending. Glenn Theobald, the police department’s chief counsel, claimed that until eventually 2007, property finance loan fraud wasn’t even outlined by condition legislation Glenn Theobald.