Congressman Chaka Fattah Criticizes FBI On Mortgage Response

Posted by Orb Staff on August 26, 2008 No Comments
Categories : Residential Mortgage

Congressman Chaka Fattah, D-Pa., has sent a letter to the director of the Federal Bureau of Investigation (FBI) requesting answers regarding what he says is a lack of dedicated resources to probe the growing crisis within the mortgage lending industry.

‘Reports that agency officials knew of a growing crisis, but failed to provide adequate resources to investigate unscrupulous mortgage companies have left millions of homeowners in the regrettable position of foreclosure,’ Fattah writes.

‘Failure to avert the mounting predicament was due to a lack of personnel dedicated to probe questionable lender procedures,’ he adds. ‘Instead, the agency had its focus on countering terrorism when all the while domestic terrorism was at the doorstep of every American household. I call on your office to investigate whether the FBI negligently failed to respond to warnings of fraud and abuse within the industry.’

Source: Office Of Congressman Chaka Fattah

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