WASHINGTON AP – The Senate voted Tuesday to hire hundreds more FBI agents and prosecutors to investigate the estimated 5,000 allegations of mortgage fraud reported each month.
The 92-4 bipartisan vote came as a House panel considered an anti-predatory lending bill that attempts to ban the type of subprime mortgage loans that contributed to the nation’s economic slide. It also came as the former head of a one-time leading mortgage lender, American Home Mortgage Investment Corp., agreed to pay nearly $2.5 million to settle allegations of accounting fraud.
