The Real Deal Miami

Mortgage regulator still under fire

July 28, 2008 10:15AM

Don Saxon, commissioner of the Office of Financial Regulation, claims he tried to create barriers to allowing ex-convicts from the mortgage business, but conceded he never took action with legislators who could make it happen. More than 10,000 people with criminal records sold mortgages in the state from 2000 to 2007, and committed at least $85 million worth of fraud. Saxon drafted changes to the legislation, but met with only one Democratic state representative about getting it to the State House, and that meeting was at Rep. Scott Randolph’s request.  The state Financial Services Commission meets this week to determine if Saxon will be forced from his job.