Combating Mortgage Fraud Top Priority for Department of Real Estate
June 18, 2008 · Published By Editor
PHOENIX -The Arizona Department of Real Estate issued Substantive Policy Statement (SPS) No. 2008.06 today to strengthen efforts against mortgage fraud. The purpose of the SPS is to prevent mortgage fraud through disclosure of premiums, credits and rebates offered by real estate licensees in a real estate transaction. Additionally, the Department is drafting stronger rules for real estate licensees which will specifically address mortgage fraud.
“Protecting consumers from mortgage fraud is a top priority. We are successfully holding licensees involved in fraud accountable by working closely with the Attorney General and the Department of Financial Institutions. Arizona consumers are better protected through this partnership,” stated Sam Wercinski, Arizona’s Real Estate Commissioner.
Wercinski also noted that the Real Estate Department plans to pursue legislation to strengthen its ability to take action against real estate licensees who participate in mortgage fraud.
Local
Filed Under Local News, Real Estate · By Editor
closeAuthor: Editor
Name: Kathee Austin
Email: editor@evliving.com
Site: http://www.evliving.com/
About: Kathee Austin is Editor in Chief at East Valley Living, the on-line source for greater Phoenix and east valley community news, events and information. She oversees all content published on the EVLiving family of sites, which is comprised of news, blog and business directory. As a way of giving back to the community, she encourages the Arizona business, non-profit and residential community to submit community news and events for publication in order to provide the potential for greater reach. News and event submissions, guest articles and press releases must pass editorial approval and Ms. Austin or her editorial staff may publish content in whole or in part or choose to modify content in order provide additional details, add or remove links, or edit submission titles for the purpose of providing opportunity for greater reach, when doing so does not take away from the intent of news submission. For more information about East Valley Living's community submission and publication service, please visit the "About" link in menu at top of page and click link to Submission Guidelines.See Authors Posts (2563)
Related Articles
Comments
We encourage visitor participation by posting comments to articles on this site. By submitting comments, you agree to adhere to EVLiving's Terms of Service.
You must be logged in to post a comment.