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Dump A Body, Then Sell A Loan
I was encouraged today when I read about provisions being added to the bill passed this Wednesday by the U.S. House that will require states to deny a license (to sell home loans) for applicants who have committed a felony within the last seven years. This is especially reassuring after a Miami Herald investigation shed startling insight into Florida's lax application screening:(The quotes below are from The Miami Herald, Matthew Haggman and Jack Dolan, as seen on The Florida Association of Realtors news website)"The Miami Herald investigation also found that 5,306 people with criminal histories became loan originators between 2000 and 2007..."...after allowing thousands of criminals to sell home loans in Florida..."... including the agency's licensing of Anthony Hollis, of Orlando. Despite convictions for car theft and passing bad checks, Hollis was granted a license to own a brokerage in 2003..."...the case of Donald Smith, who was sentenced to 17 years in prison for strangling his wife and dumping her body in Tampa Bay. Saxon said staff did not "timely review" information submitted by Smith and had to issue the license because an administrative deadline expired.""In the case of Richard Crowder, who went on to commit $37 million in mortgage fraud, Saxon pointed out that Crowder's ... more

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