Under Felecia Rotellini’s watch as Department of Financial - TopicsExpress

Under Felecia Rotellini’s watch as Department of Financial Institutions Supervisor, the State of Arizona became Ground Zero for the kinds of mortgage fraud and lending scams that ultimately brought the entire housing market crashing down. According to the Mortgage Asset Research Institute Fraud Index, a comprehensive measure of lending fraud, Arizona ranked 21st in the country for this kind of illegal activity in 2005. By the time Rotellini resigned from her post as financial watchdog for ADFI in summer 2009, Arizona’s rate of mortgage fraud had skyrocketed to 4th in the nation, trailing only Florida (1), New York (2) and California (3).

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