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Loan Modification
: Mortgage Lender Implode-o-MeterRegulators defend handling of NH mortgage company
By Implode-Explode Heavy Industries
"The New Hampshire Bureau of Securities Regulation said Friday that it acted appropriately in dealing with a company now accused of running a giant Ponzi scheme, but that two other agencies didn't do enough.
Securities regulators said in a 22-page report that they received one complaint about the former Financial Resources Mortgage of Meredith in 2000 and ordered it stop selling securities. Beyond that, most of the company's actions should have been regulated by the state banking department, they said."
Full post as published by Mortgage Lender Implode-o-Meter on April 23, 2010 (boomark / email).
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