The Real Deal Miami

Crist calls for mortgage investigation

July 30, 2008 12:08PM

The mortgage mess has made it to the governor’s mansion. Gov. Charlie
Crist said his faith in the state’s mortgage broker licensing system is
shaken and he gave the Office of Financial Regulation a two-week
deadline to revamp procedures and screen against criminals entering the
business. Agency Commissioner Don Saxon remains on the job, though
Chief Financial Officer Alex Sink — the Cabinet’s lone Democrat — and
two statewide consumer groups have called on Saxon to resign. Attorney
General Bill McCollum also called for a probe
into the agency. Saxon said this week the agency began following a new
policy that would refuse a broker’s license to anyone convicted of a
felony in the past seven years and would deny any applicant found
guilty of fraud, dishonest dealing, breach of trust or money laundering.