ACORN, the housing advocacy organization for low income Floridians, is demanding the resignation of Don Saxon, head of the Office of Financial Regulation and the state's top mortgage regulator. The organization cited the Miami Herald's investigative report, Borrowers Betrayed, which revealed that the state allowed thousands of felons to obtain mortgage brokers licenses and operate as loan originators, committing at least $85 million in mortgage fraud and swindling hundreds of victims of their life's savings.
"Don Saxon needs to be held accountable for allowing these crooks to rob Floridians of their homes and livelihoods," said Carolyn Patmon, Head of ACORN’s Anti-Foreclosure Committee. "We need to send a message to Tallahassee that we will not allow the mortgage industry continue unabated with little fear of retribution."
Press conferences calling for Saxon's ouster will be held in Miami and Orlando on Thursday. For its part, ACORN has had its own problems with fraud within its own ranks, with an individual accused of embezzlement at its national office.