In an exclusive article sent out on November 24, Reuters news service says that a U.S. housing regulator has been investigating the activities of San Diego nonprofit Heartland Coalition. Reuters could not confirm that the investigation is still ongoing.
The U.S. Department of Housing and Urban Development's Office of the Inspector General late last year began probing Heartland's participation in the "First Look" program in Las Vegas and other cities, according to a redacted investigation report and a letter from the regulator in response to a Freedom of Information Act request.
According to the documents and a review of records in Las Vegas, the charity flipped a significant number of the homes to investors, generating millions of dollars in profits for those financing Heartland's activities with loans, according to Reuters.
Heartland's founder Mark Hanson said he was not aware of the investigation, and his group's suspension, which is still in place, was unwarranted.