John Rebchook is a former Rocky Mountain News reporter with more than 30 years of experience in writing and communications... 
Erin Toll, the director of the Colorado Division of Real Estate, was placed on administrative leave today.
Erin Toll, the director of the Colorado Division of Real Estate, who recently has been criticized for her handling of an investigation of a company that employs a state senator as a mortgage broker, today went on leave from the division, sources tell InsideRealEstateNews.com.
Toll stepping down, at least temporarily from the division, comes in the wake of a division investigation of American Home Funding, which employes Sen. Ted Harvey as a broker. The firm is under investigation for allegedly misleading consumers with advertising fliers that look like official tax documents.
Harvey is not part of the investigation, the division indicated last week. But Harvey told InsideRealEstateNews today that he was aware that Toll was placed on leave.
Harvey says Toll put on leave
“I knew that,” Toll was put on leave, Harvey told InsideRealEstateNews today. “I didn’t think that was public. I was told by somebody in the administration. I was told that she was put on leave, but it would be inappropriate to say anything more.”
Harvey declined to comment on the action taken against Toll.
“I would rather not go into it, for obvious reasons,” he said.
Another source close to the situation, however, said it is not technically “accurate” to say Toll was put on leave, but said the department is not allowed to go into details at this time about exactly what happened to Toll. A spokesman from Colorado Department of Regulatory Agencies, which oversees the division, did not return calls. Bob Montoya, executive director of the Colorado Mortgage Lenders Association, said he had not heard about it and had no comment.
Toll aggressively pursued scams
Toll could not be reached for comment. Toll was appointed as director of the real estate division in September 2006 when Bill Owens was governor. Since then, she has launched a number of high-profile investigations into mortgage scams. Many mortgage brokers, who want the “bad apples” weeded from their industry, however, complain that Toll sometimes acts as the “judge, jury and executioner.” Some mortgage brokers and their lawyers have complained that she has embarked on “witch hunts.” Toll, in the past, has said that many of her investigations come from competitors. Marcia Waters, who heads investigations and compliance for the real estate division, is acting as the director while Toll is on leave.
Toll’s wings clipped
Last week, the Colorado Senate approved an amendment to a mortgage regulation bill that would reduce Toll’s authority to regulate mortgage lenders, replacing it with a board to be appointed by the governor. It would be similar for boards that oversee complaints against appraisers and real estate brokers. Supporters of the board said it has nothing to do with her investigation and handling of American Home Funding. The Senate also approved an amendment that would keep complaints against mortgage brokers secret unless they are sanctioned for violating state regulations. The board could make rules, investigate complaints and discipline members. Currently, Toll launches investigations and decides penalties, as permitted under the law. An administrative law judge could hear appeals from the board’s decisions.
Contact John Rebchook at JRCHOOK@gmail.com or 303-945-6865.
So long, Erin. Write if you get work. Outside of Colorado, I hope.
[...] The complaint, by Toll and her lawyer, Bill Finger, for the first time, confirms that she was placed under involuntary administrative leave with full pay by Barbara J. Kelly, executive director of the Department of Regulatory Agencies, on March 16. DORA oversees the real estate division. The leave was first reported by InsideRealEstateNews.com. (For that story, please visit this link.) [...]
Erin " Troll," is a Troll, a raggedy one not even one that will ever bring any money, because she has no value to the business of people…she needs to be put on the TROLL shelf as USED, outdated, ugly troll.
[...] For the first story Erin Toll’s leave, please visit this link. [...]
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