Catherine Hanaway, U.S. attorney for the Eastern District of Missouri, has formed a mortgage fraud task force made up of law enforcement, government regulators, and real estate professionals. The first meeting of the task force was on Nov. 12 at the U.S. attorney's office in St. Louis. At the first meeting, Ms. Hanaway mapped out the goals of the organization, which include stopping mortgage fraud before it starts, educating industry officials, and ensuring that cases are brought promptly to the attention of law enforcement officials.
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Hometap's product provides homeowners with cash in exchange for a share of their home's future value, but the company has been faced with legal challenges claiming deceptive marketing.
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