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December 3, 2009

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FLASHPOINT for Sep 5, 2007

Wednesday, Sept. 5, 2007 | 7:18 a.m.

So you might have heard about this mortgage-lending crisis that is afflicting the country and is especially acute here in Nevada? Very serious. Everyone, even the president, has a plan to help consumers. Millions of Americans could face foreclosures. So the Gibbons administration has found someone who really understands the industry from inside to oversee the state regulation of mortgage lenders: Joseph Waltuch. Who is he? You wouldn't know this from the administration news release, but he was a vice president and senior counsel for a company, New Century, that went belly up and is now facing a federal probe. Oh, he has nothing to do with all of that, the Gibbonsites insist. Of course not. They wouldn't have hired him otherwise.

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