Agenda 11/14/2017 Item #16H211/14/2017
EXECUTIVE SUMMARY
Recommendation to approve a resolution requesting that the Florida Attorney General increase
efforts to investigate reverse mortgage fraud.
OBJECTIVE: To protect vulnerable Florida retirees from fraudulent reverse mortgage schemes.
CONSIDERATIONS: A reverse mortgage can be a legitimate financial tool available to aging
homeowners; however, there are many deceitful individuals using fraudulent reverse mortgage schemes
to steal hard-earned equity from unsuspecting senior citizens.
The U.S. Census and Florida Department of Elder Affairs estimates that the 65 and older age group is the
fastest growing segment of Collier County residents, comprising 29% of our population compared to just
19% of all Florida residents. This makes our community a significant target for fraudulent reverse
mortgage schemes.
The Office of the Inspector General from the United States Department of Housing and Urban
Development has issued a fraud bulletin warning of the danger of fraudulent reverse mortgage schemes
affecting senior citizens.
The proposed resolution requests that the Attorney General of the State of Florida increase efforts to
identify and hold accountable individuals who victimize Florida’s senior citizens through reverse
mortgage fraud.
FISCAL IMPACT: None.
GROWTH MANAGEMENT IMPACT: None.
LEGAL CONSIDERATIONS: The County Attorney has reviewed the proposed resolution and
approved it as to form and legality. A majority vote of the Board is required for approval. -JAK
RECOMMENDATION: To approve the attached resolution requesting that the Florida Attorney
General increase efforts to investigate reverse mortgage fraud.
PREPARED BY: Andy Solis, Esq., Vice Chairman, Commissioner District 2
ATTACHMENT(S)
1. Resolution - Reverse Mortgage Fraud - JAK signed (PDF)
16.H.2
Packet Pg. 1966
11/14/2017
COLLIER COUNTY
Board of County Commissioners
Item Number: 16.H.2
Doc ID: 4192
Item Summary: Recommendation to approve a resolution requesting that the Florida Attorney
General increase efforts to investigate reverse mortgage fraud.
Meeting Date: 11/14/2017
Prepared by:
Title: Legal Assistant/Paralegal – County Attorney's Office
Name: Virginia Neet
11/08/2017 9:19 AM
Submitted by:
Title: Commissioner District 2 – Board of County Commissioners
Name: Andy Solis
11/08/2017 9:19 AM
Approved By:
Review:
Office of Management and Budget Valerie Fleming Level 3 OMB Gatekeeper Review Completed 11/08/2017 9:22 AM
Budget and Management Office Mark Isackson Additional Reviewer Completed 11/08/2017 9:32 AM
County Attorney's Office Jeffrey A. Klatzkow Level 3 County Attorney's Office Review Completed 11/08/2017 11:32 AM
County Manager's Office Nick Casalanguida Level 4 County Manager Review Completed 11/08/2017 11:51 AM
Board of County Commissioners MaryJo Brock Meeting Pending 11/14/2017 9:00 AM
16.H.2
Packet Pg. 1967
16.H.2.a
Packet Pg. 1968 Attachment: Resolution - Reverse Mortgage Fraud - JAK signed (4192 : reverse mortgage fraud)