On Friday, during a press conference at the U.S. Attorney’s Office, Rosenstein acknowledged that ''none of our agencies alone has the resources to be able to confront this crisis, but working together we think we’ve been very effective in targeting some of the most significant offenders in the mortgage fraud industry here in Maryland.''
Rosenstein explains that his task force will ''seize cash, bank accounts, jewelry, artwork, houses, cars, boats and other assets that were purchased with ill-gotten gains, and return the money to victims.''
The inaugural meeting and press conference for the newly formed task force took place at the U.S. Attorney's Baltimore offices. Representatives from 15 agencies attended the meeting and discussed ways to share information, develop a training program that would help federal agents and prosecutors investigate mortgage fraud scams. Discussions also targeted trends and recent cases, and incidents of property paid for by the victims of fraud.
According to Rosenstein, ''many of the agencies have been working together for more than a year including the State Department of Labor, Licensing and Regulation, the Office of the Attorney General, the Maryland Insurance Administration, the Federal Bureau of Investigation and the U.S. Department of Housing and Urban Development.
According to Patricia C. Jessamy, Baltimore City State's Attorney, ''cooperation is essential because the perpetrators of mortgage fraud have been quick to ‘morph’ into new schemes and geographic areas when they are shut down in others. Many of the same people, who engaged in predatory lending a year ago, for example, are now targeting residents with offers to help them fix their credit, avoid foreclosure or refinance their mortgages. And at the same time, law enforcement officers in different jurisdictions might not share information.''
At a news conference Jessamy acknowledged that ''our homes are our most valued possession. As a community we must do everything within our power to protect our citizens’ investment. Working alone we can accomplish some things, but working together we can accomplish much more.''
