Few states were as negatively impacted by foreclosures as Florida following the collapse of the housing bubble. The inflated housing prices that many homeowners experienced led to more cases of fraudulent lending throughout the state beginning in 2006-07.
Since then Florida has taken aggressive actions to help combat this trend, such as increasing the penalties for those convicted of mortgage fraud. The state has also taken steps to share information and insights in collaborate ways in the ongoing fight against mortgage fraud.
The Florida Attorney General's Office is one of the first places consumers should turn to when they think they have been affected by mortgage fraud or are encountering a suspicious situation. The office offers a variety of mortgage- and fraud-related information on its website and provides a toll-free Consumer Hotline (see below) as well. The Federal Bureau of Investigation (FBI) will also investigate mortgage fraud when violations of federal law may have been involved, such as when the fraud involves federal or interstate financial institutions.
Florida's Department of Business and Professional Regulation, through its Division of Real Estate, sets rules and guidelines for real estate professionals and exercises disciplinary authority. It has a dedicated Consumer Complaints Section (see below) that consumers may contact to report what they believe is unethical or illegal conduct by real estate professionals.
The Florida Department of Financial Services plays a similar role for the state financial industry and also offers a consumer helpline (see below). It also has a variety of resources to assist consumers in making informed financial decisions. Its Office of Financial Regulation sets the rules for and oversees state financial institutions such as banks and credit unions.
Offices of the U.S. Department of Housing and Urban Development offices can help borrowers and homeowners find the resources they need to make smart mortgage decisions.
The Better Business Bureau sets forth guidelines in which all businesses should operate and will take steps to ensure that consumers are being treated fairly by businesses across the country.
Below is a list of various state and regional agencies and organizations that Florida consumers may contact if they believe they are the victims of mortgage fraud or have other concerns on the subject.
Attorney General of Florida
Consumer Protection
http://myfloridalegal.com/consumer
The Capitol PL-01
Tallahassee, FL 32399-1050
Phone: (850) 414-3300
Consumer Hotline: (866) 966-7226
Florida Department of Business and Professional Regulation
Division of Real Estate
http://www.myflorida.com/dbpr/re/frec.html
Consumer Complaints Section
400 West Robinson Street, Suite N801
Orlando, FL 32801-1757
Phone: (850) 487-1395
Email: Call.Center@dbpr.state.fl.us
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