[StBernard] Foti to investigate mortgage company

[Westley Annis]

Foti to investigate mortgage company

BATON ROUGE, La. (AP- Attorney General Charles Foti says his Consumer
Protection division has received numerous complaints about some mortgage
companies. 

Foti says he is launching an investigation into at least one company,
Countrywide Mortgage, and others may follow. 

Foti says consumers have complained that Countrywide is withholding or is
slow in forwarding the proceeds of insurance checks intended for home
repairs. 

The AG is also looking into complaints that some mortgage lenders are
charging excessive prepayment penalties when homes are destroyed and the
mortgage is paid off by the insurance company.