Tuesday, May 01, 2012
McCune Davis calls on AZ attorney general and Republican leadership to stop withholding information about unlawful fund sweeps
Currently, the Republican budget proposes a sweep of $50 million from the Arizona Attorney General’s Mortgage Settlement Fund. The fund was created by a joint state-federal settlement with Arizona and 48 other states, the federal government and the country’s five largest residential mortgage loan servicers who engaged in fraudulent loan and foreclosure practices. The money is supposed to be used to help families impacted by the foreclosure crisis. A budget vote is expected this morning.
“This is a matter of public record,” McCune Davis said. “Apparently this memo was sent to a select few members of the legislature. Every member should see the memo before we are required to vote on it this morning. If Attorney General Tom Horne and Republican leadership know that sweeping the money is unlawful, they have an obligation to tell all of us. To withhold this information before a crucial vote is reprehensible.”