Koster going to D.C. to discuss mortgage fraud
This article first appeared in the St. Louis Beacon, Sept. 16, 2009 - Missouri Attorney General Chris Koster is among eight attorneys general from around the country who are heading to Washington D.C. for a meeting tomorrow with Secretary of the Treasury Tim Geithner and Attorney General Eric Holder.
Topic on tap: How best to "pursue businesses engaged in mortgage fraud."
Thursday’s meeting also is to include Housing and Urban Development Secretary Shaun Donovan and Federal Trade Commission Jon Liebowitz.
Koster's office says that Geithner and Holder had invited the select group of attorneys general because of their earlier involvement in the issue. Besides Koster, the other attendees will be from Arkansas, Connecticut, Illinois, Iowa, Maryland, North Carolina and Rhode Island.
"The officials invited Koster for his role as part of a multi-state task force addressing the issue of mortgage fraud," his staff said.
"In July, Koster testified before the United States Senate on steps Missouri is taking to address foreclosure-relief and debt-settlement scams in Missouri, and what Congress could do to address the issue nationwide,'' his staff statement said.
"Koster recommended Congress pass a law similar to Missouri’s ban on up-front fees for these types of businesses. "Koster said the ban on up-front fees is one of the state’s most valuable tools for cracking down on businesses engaged in mortgage-relief fraud, and is important to consumers in recognizing when a business is not legitimate."
Since announcing in April his “zero tolerance” campaign against mortgage fraud, Koster says his office "has filed suit against seven businesses and has a number of other mortgage fraud investigations underway."