PHOENIX – Today, Attorney General candidate Felecia Rotellini announced her plans to address problems in the mortgage lending and servicing industries as the state’s top law enforcement official. Her statement comes hours after 47 state Attorneys General announced the creation of a working group to address alleged misconduct in the processing of foreclosure actions.

“I applaud the nationwide investigation into these practices, but we need to do more to slow down the foreclosure process and ensure consumers aren’t thrown out of their homes as the result of errors in the foreclosure process,” said Felecia Rotellini. “The loan modification process is not working. We must stop wrongful foreclosures that result in evictions, and figure out a way to keep Arizonans in their homes.

“I also pledge to take a lead role in the working group of Attorneys General to work out solutions to problems with the current loan modification process, and to develop ways that servicers can work with homeowners to help them keep their homes without the threat of lawsuit by the investors. I will also work with national banks and mortgage servicers that are subject to state regulation through the Arizona Consumer Protection Act to ensure that homeowners are not misled during the loan modification process.

“I am the only candidate in the race with the expertise and record of taking on unscrupulous mortgage lending and consumer fraud. As Attorney General, I will hit the ground running to lead the charge against misleading mortgage lending and modification practices. As both an Assistant Attorney General and Superintendent of Financial Institutions, I've been winning the fight against companies that take advantage of consumers, and that is what I will continue to do as Arizona’s Attorney General.”

As Superintendent of Financial Institutions, Rotellini created a Mortgage Fraud Task Force that worked with the U.S. Department of Justice in indicting 36 people in “Operation Cashback” and led the successful effort to get mortgage loan officers licensed in Arizona.