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Office of Financial Regulation mortgage industry regulation investigative records, 1995-2009, bulk 2008.
Amount:
2 cubic ft.
Medium Included:
Organization/Arrangement:
Arranged by subject.
Restrictions:
***RESTRICTED***Per Governor's Office, "Prior to responding to any public records requests related to these documents, please contact the Chief Inspector General or the Director of Auditing to ensure compliance with applicable laws related to exempt documents." In addition, Social Security Numbers present in these records are exempt from public disclosure per s. 119.071(5) and need to be redacted prior to releasing files.
Terms Governing Use:
***RESTRICTED***Per Governor's Office, "Prior to responding to any public records requests related to these documents, please contact the Chief Inspector General or the Director of Auditing to ensure compliance with applicable laws related to exempt documents." In addition, Social Security Numbers present in these records are exempt from public disclosure per s. 119.071(5) and need to be redacted prior to releasing files.
Biographical/Historical:
In 2008, the Miami Herald published a series of articles reporting that the Office of Financial Regulation was slow to react to mortgage fraud complaints and to the licensing of more than 10,0000 individuals with criminal convictions, including kidnapping, armed robbery, murder and cocaine trafficking, to work in the mortgage industry between 2000-2007. The articles also reported that the Office of Financial Regulation failed to conduct the required Federal background and fingerprint checks on many of those applicants. The newspaper reported that these convicted felons defrauded consumers and lenders out of at least $85 million. The Chief Inspector General for the Executive Office of the Governor and each Cabinet office Inspector General investigated these allegations for approximately six weeks before reporting back to Governor Crist and the Cabinet with their findings on the level of compliance with governing directives, as outlined in Chapter 494, Florida Statutes, and the determination of the sufficiency of those directives.
The Inspector General Act of 1994 created an Office of Inspector General (IG) in each state agency (Section 20.055, Florida Statutes) with responsibility for performing audits and investigations to promote accountability, integrity, and efficiency in state government. The Governor's Office of Chief Inspector General was created in Section 14.32, Florida Statutes, to monitor the activities of the Offices of Inspectors General in the state agencies that are under the jurisdiction of the Governor as well as to serve as the Inspector General within the Governor's Office.
The Office of Financial Regulation provides regulatory oversight for Florida's financial service providers, including mortgage brokers, to protect the citizens of Florida, promote a sound financial marketplace, and contribute to the growth of Florida's economy.
Summary:
This series documents the investigation by the Inspectors Generals of each cabinet office into the regulation of the mortgage industry by the Office of Financial Regulation to determine if the office adequately protected the citizens of Florida. The records relate to a case that was unique in that it was requested by a member of the Cabinet at a Cabinet meeting on July 29, 2008, after the Miami Herald published a series of articles reporting on issues with mortgage fraud and improper licensing in Florida.
The series includes meeting and training agendas; emails and correspondence sent to/from the Inspector General's investigative team members, Congressional members, the Financial Services Commission members (the Florida Cabinet), the Commissioner of the Office of Financial Regulation and the Miami Herald; interview statements and narratives: Office of Financial Regulation counsel and staff members; documentary evidence: data analysis and findings reports; investigative discussion notes; case file histories; investigation complaints and determinations; project reports: draft and final; proposed amendments and bills; proposed and adopted emergency rules regarding the issuance/denial/revoking of mortgage professional licenses; acts of legislation, Laws of Florida and Florida Statute: Chapter 494, regarding mortgage professional licenses; transcripts of the Financial Services Commission and Cabinet meetings; operational and performance audits of the Office of Financial Regulation; investigative standards/guidelines and training procedures/ practices, as related to the Office of Financial Regulation; online newspaper articles; and executive summaries.
Finding Aids:
Folder listing available. 0
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Electronic Records Access:
Subject Access Fields:
Crist, Charlie, 1956-
Florida. Cabinet. Florida. Dept. of Agriculture. Florida. Dept. of Legal Affairs. Florida. Dept. of Financial Services. Florida. Office of Financial Regulation.
Financial institutions Real estate investments. Mortgage brokers Florida. Mortgage brokers Licenses Florida.
Agendas. aat Audits. aat Bills (legislative records) aat Electronic mail. aat Financial records. aat Interviews. aat Legislative acts. aat Legislative records. aat Letters. aat Minutes. aat Reports. aat Transcripts. aat
for detailed listing.