CMLA joins CAMB on Fraud bill

From the Denver Post: "Two rival mortgage-industry trade groups have joined to push a bill that would create and finance a board to prosecute people who commit mortgage fraud."

I don't like it. Not only does it set up a giant bureaucracy, they want consumers to pay for it. Placing a fee on every closing (which will be passed on the consumer one way or another) to fund prosecution of the law breakers makes no sense, isn't that what our tax dollars are for? In the end, I bet the closing fees, registration fees and bonding will do nothing to stop the crooks while adding new layers to an already overfunded state government.