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House Committee Tackles Mortgage Fraud

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LANSING (WWJ) – Mortgage fraud, blamed in part for the housing meltdown, was front and center in Lansing, Wednesday.

Oakland County register of Deeds George Bullard and others around the state went before the House Banking and Financial Services Committee to discuss the ramifications of mortgage fraud, where forged documents put the legal ownership of foreclosed homes in doubt… and what to do about it.

“The scope of this is beyond just a couple of documents. But what 60 Minutes didn’t tells, and maybe they’re investigating and there’ll be a followup, is how many young people did they have in a room for how long a time. How many documents were signed with forged signatures,” Bullard said.

“I believe that fraudulent documents are turning up all over this country, all over the state. There are huge civil and criminal implications,” he said.

Bullard said he has come across at least five documents with forged names, and is looking for others.

Bullard said he has brought the issue to the attention of the Oakland County Prosecutor, the Sheriff’s Office and the State Attorney General’s Office.

Lawmakers are now trying to form legislation to combat the problem.

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