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The team will utilize the provisions of California's False Claims Act, which Harris described as ''robust''. She said they will ''use it in a way that will look at all those who have made false statements or misled investors of any nature - be they individuals, institutions or municipalities,'' according to the scpr.org article.
The fallout from mortgage fraud costs not only in loss of homes, but in huge numbers of job losses, as well as a decline in property values, and loss of state revenues.
According to the May 23rd latimes.com article, ''California creating mortgage fraud task force'', Harris's Strike Force dovetails with the continuing crackdown on mortgage fraud around the country. New York Atty. Gen. Eric Schneiderman is seeking records from three major Wall Street banks in relation to mortgage fraud. As well, ''a months-long investigation by all 50 state attorneys general into the foreclosure practices of the nation's five largest mortgage servicers'' is ongoing.
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