AG expands mortgage fraud unit

(AP) - Nevada's attorney general is doubling the size of a mortgage fraud investigation team, even while the department is cutting its budget by nearly 30 percent.

Attorney General Catherine Cortez Masto is using federal funds to hire two prosecutors and four investigators to handle thousands of complaints against more than 200 companies accused of loan modification schemes or predatory lending.

The attorney general formed a seven-member task force in 2007 to handle an exploding number of related fraud cases.

Federal funds for the additional staff will last for two years, but Masto said Wednesday she's unsure that will be enough time to handle all the claims.


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