In a letter to Chief Financial Officer Alex Sink today, Attorney General Bill McCollum remained silent on the question of whether the state's top mortgage regulator, Don Saxon, should keep his job but he proposed new rules to create a new class of felons in the clemency process.
McCollum proposes a seven-year ban on felons who seek to have their rights restored from entering the mortgage brokerage and lending industry. "Such a rule would provide further limits to ex-felons who seek occupation in the mortgage brokerage and lending industry,'' he wrote. McCollum noted that a federal mortgage fraud bill, expected to be signed by the president, would do the same thing and he wants other provisions of the federal bill to be adopted by rule asap.
McCollum was one of the most rigid opponents to the existing changes to the clemency process that allowed for automatic restoration of rights for many felons and a 15-year waiting period for those that committed the most violent crimes.
The attorney general also told Sink he wants his office to conduct the investigation into the licensing practices of the Office of Financial Regulation. "We need to understand the extent of the problem in order to modify existing rules or to propose legislative remedies to strengthen our efforts," he wrote. Maybe the investigation buys Saxon more time.
Here's his letter: Download mccollum_728.pdf