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U.S. Criticized for Lack of Action on Mortgage Fraud

Four years after President Obama promised to crack down on mortgage fraud, his administration has quietly made the crime its lowest priority and has closed hundreds of cases after little or no investigation, the Justice Department’s internal watchdog said on Thursday. The report by the department’s inspector general undercuts the president’s contentions that the government is holding people responsible for the collapse of the financial and housing markets. The administration has been criticized, in particular, for not pursuing large banks and their executives. via U.S. Criticized for Lack of Action on Mortgage Fraud – NYTimes.com.

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