AP source: FBI looking at foreclosure mess

By: Associated Press
By: Associated Press

Tuesday, October 19, 2010

WASHINGTON (AP) -- A federal law enforcement official says the FBI is in the initial stages of trying to determine whether the financial industry may have broken criminal laws in the mortgage foreclosure crisis.

The law enforcement official says the FBI is at the start of a lengthy sorting-out process in which agents will look into what caused the financial institutions to mishandle the flood of paperwork in the historic avalanche of foreclosures.

The official says the question is whether financial institutions were acting with criminal intent or were simply overwhelmed by events in the wake of the housing market's collapse. The official spoke on condition of anonymity because the investigation is just getting under way.

(Copyright 2010 by The Associated Press. All Rights Reserved.)


Have information or an opinion about this story? Click here to contact the newsroom.


Copyright WRDW-TV News 12. All rights reserved. This material may not be republished without express written permission.


Mailing Address: P.O. Box 1212 Augusta, GA 30903 Main Telephone: (803) 278-1212 Newsroom: (803) 278-3111 Fax: (803) 442-4561
Gray Television, Inc. - Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 105313238 - wrdw.com/a?a=105313238