Criminals Brokered Mortgages


An investigation has found that thousands of criminals were licensed by the state to work in Florida's mortgage market despite their backgrounds.

A Miami Herald newspaper investigation reports that more than 10,000 mortgage brokers in Florida have criminal records but were still licensed by the state.

Now, Chief Financial Officer Alex Sink is calling for the resignation of Florida's Financial Regulation Commissioner Don Saxon whose agency regulates mortgage brokers.

State Rep. Ron Reagan of Bradenton called the numbers shocking. He is chairman of the House Jobs and Entrepreneurship Council which oversees the budget of Saxon's agency.

Reagan is talking with other lawmakers and reviewing the report. He plans to wait for the Florida Cabinet to meet before responding.

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