Downsizing of finance underway
Florida mortgage regulator resigns under fire
By BILL KACZOR 08.12.08, 4:21 PM ET
TALLAHASSEE, Fla. -
Florida's top mortgage industry regulator resigned Tuesday amid allegations his agency let thousands of convicted criminals, including bank robbers and racketeers, work in the home loan business.
Gov. Charlie Crist and the state's three Cabinet members, who together oversee the Office of Financial Regulation, also approved emergency rules to stop the licensing of ex-convicts as mortgage brokers.
The panel two weeks ago ordered their respective inspectors general to audit the office in response to a Miami Herald investigation.