Colorado Attorney General John Suthers has made combating foreclosure and mortgage fraud one of top priorities since taking office in 2005. However, his efforts and the work of the attorneys and staff of the Office of the Attorney General extend beyond Colorado’s borders.
The State Foreclosure Prevention Working Group
The Office of the Attorney General also has participated in the State Foreclosure Prevention Working Group, whose members include representatives from the offices of the attorneys general of 11 states, two state bank regulators and the Conference of State Bank Supervisors. The working group has issued a series of reports on the effects of subprime lending, lenders’ efforts to address the foreclosure crisis and what can be done to address the ongoing effects of the crisis:
The Financial Crisis Inquiry Commission
Attorney General John Suthers testified before the Financial Crisis Inquiry Commission in February 2010 on Colorado’s experience during the financial crisis, including the rise in mortgage- and foreclosure-related consumer fraud. You can watch a video of Suthers’ complete testimony, including his responses to questions from the commission, here. You can access Suthers testimony as well as the testimony of other commission witnesses at the panel’s Web site, here.
Other Efforts on Mortgage and Foreclosure Fraud
Staff from the Office of the Attorney General’s Consumer Protection Section have provided training to representatives from other states on how to combat mortgage fraud. These training sessions have provided vital insights to Colorado’s peers engaged in consumer protection efforts in 39 other states and the District of Columbia.
The Attorney General also serves on two national mortgage and foreclosure fraud task forces: the Financial Fraud Enforcement Task Force and the Mortgage Fraud and Recovery Act Fraud working group. Suthers is one of the co-chairmen of the task force's Mortgage Fraud Working Group and the Recovery Act Working Group.
The attorneys general of Colorado and Illinois led a coalition of 40 states in proposing tough rules for the loan-modification industry.
The attorney general serves on the executive committee of a 50-state effort probing the integrity of the foreclosure processes used by mortgage lenders in Colorado and across the country.