Subject: FACT CHECK: Washington Republicans Lie About Catherine Cortez Masto’s Record
From: Zach Hudson <[email-masked]>
To: undisclosed-recipients:;
Date: Mon, 2 May 2016 14:20:07 -0700

​

For Immediate Release

May 02, 2016

Contact: [email-masked]

*FACT CHECK: Washington Republicans Lie About Catherine Cortez Masto’s
Record*

Las Vegas, NV – Catherine Cortez Masto for Senate spokesperson Zach Hudson
released the following statement on Washington Republicans’ false attacks
against Catherine Cortez Masto:

“Washington Republicans are lying about Catherine Cortez Masto’s record
because they know as Nevada’s next Senator, she will focus on solving
problems for Nevada families, not pushing their extreme agenda. The truth
is: as Nevada’s Attorney General, Catherine Cortez Masto held the Big Banks
accountable and helped deliver $1.9 billion in relief to Nevadans. Cortez
Masto's efforts to hold the Big Banks accountable have been praised by
Republican and Democratic Attorneys General alike. In contrast, Congressman
Heck has been part of the problem in Washington and voted with Republicans
instead of doing what’s best for Nevada families. Congressman Heck took
more than $300,000 from Wall Street after he sponsored a bill to give tax
breaks to Big Banks – the same Big Banks that gave out bad loans and caused
Nevada’s foreclosure crisis. Congressman Heck even called the mortgage
crisis a ‘blip on the radar,’ and agreed with others that the foreclosure
process needed to ‘run its course.’”

*View the truth on Cortez Masto’s record:*

 *FREEDOM PARTNERS ACTION FUND AD “LOST” – AD PUSHBACK 5/2/16*

*VISUAL: *Foreclosure sign in front of a dilapidated house.

*VISUAL: *Empty Warehouse

*Visual: *Hispanic lady looking at camera

*Voiceover*: Lost Homes, Lost Jobs, Lost Hope

*Visual: *Dilapidated Community with Vegas skyline in background

*Voiceover*: The Housing Crisis Hit Nevada Hardest

*Text:* “Ground Zero Of A National Housing Crisis” –Las Vegas Sun, 8/13/08

*THE TRUTH:  CONGRESSMAN HECK CALLED THE MORTGAGE CRISIS A “BLIP ON THE
RADAR” DURING THE HEIGHT OF THE CRISIS*

*Congressman Heck: The Mortgage Crisis Is A “Blip On The Radar.” *In 2008,
Heck called the mortgage crisis a “blip on the radar” in an interview. Heck
was asked in an interview with the *Nevada News Makers*, ‘What issues are
most critical to Nevada? Perhaps the recent subprime mortgage crisis and
the recent state budget?’ Heck answered, “Those things, while important and
certainly critical to those that were affected, tend to be blips on the
radar.” [*Nevada News Makers,* accessed 2/29/12
<http://www.youtube.com/watch?v=nNnEzHuZ8Zg>]

*Heck Agreed With Mitt Romney That The Foreclosure Process Needed To* *“Run
Its Course And Hit The Bottom.” *“In a state where the loss of a family
home perhaps has been the most painful outcome of the stressed economy,
Mitt Romney took hits Tuesday from Nevada leaders of both parties after
commenting that the government should let the foreclosure process ‘run its
course and hit the bottom.’ […] Rep. Joe Heck, R-Nev., has endorsed Romney.
Heck thinks the housing market ‘does need to reach bottom,’ a spokesman
said, but supports ‘a soft landing rather than a hard crash’ by having the
government continue to offer refinancing help.” [Las Vegas Review-Journal,
10/18/11
<http://www.reviewjournal.com/business/housing/reid-hits-romney-foreclosures>
]

*THE TRUTH: HECK SPONSORED A BILL TO CUT TAXES ON THE BIG BANKS – THE SAME
BIG BANKS THAT GAVE OUT BAD LOANS AND CAUSED NEVADA'S FORECLOSURE CRISIS.…*

*Bank Lobbyists Pushed Heck’s Bill To Repeal Nevada’s Excise Taxes On
Banks. *“Nevada bankers asked lawmakers on Thursday to back a bill
repealing two excise taxes imposed on banks in 2003, calling them unfair
levies that single out their industry. Bill Uffelman, president of the
Nevada Bankers Association, said the taxes have caused a severe drop in
some small rural banks' earnings. That's particularly difficult when banks
are facing competition from credit unions that don't pay the extra taxes,
he said. […] John Sande, a lobbyist with the Nevada Bankers Association,
said the bill emphasizes the discrimination in the excise tax and
reiterated that financial institutions should be charged the same taxes as
any other business. He was not opposed to AB290, but said, ‘It just goes to
show you how unfair the existing law is.’” [Associated Press, 3/22/07
<http://www.nevadaappeal.com/article/20070323/ELECTIONS/103230118>]

*2010: Heck Defended Bill To Cut Taxes On Banks, Argued It Put Them On
Equal Footing With Other Businesses. *“Heck said that he didn't remember
the vote on the tax rebate for seniors and that the tax cut for banks was
meant to put them on equal footing with other businesses. ‘I have no
recollection of that vote,’ he said of the tax rebate vote. The bank vote,
he said, corrected a two-tier system Titus supported in 2003. ‘It didn't
make a difference if it was banks,’ Heck said. ‘It could have been somebody
who was making widgets or baskets.’” [Las Vegas Review-Journal, 10/15/10
<http://www.reviewjournal.com/news/elections/heck-titus-sharp-matchup>]

*…AND HECK OPPOSED WALL STREET REFORMS ON BIG BANKS INTENDED TO PREVENT
ANOTHER FORECLOSURE CRISIS…*

*Heck Voted To Create A Safe Harbor From The Penalties Under Wall Street
Reform For Banks That Originate Non-Qualified Mortgages That Do Not Comply
With The Ability-To-Repay Requirements.* In November 2015, Heck voted for:
“Passage of the bill that would create a safe harbor from the penalties
under the Dodd-Frank Act for banks that originate non-qualified mortgages
that do not comply with the ability-to-repay requirements, as long as the
bank retains the mortgage in its own portfolio. The bill would also create
safe harbor for mortgage originators (brokers) if the mortgage lender is a
depository institution and intends to hold the mortgage for the life of the
loan, and the originator tells the consumer that the lender will hold the
mortgage for the life of the loan. The bill would also require that
prepayment penalties comply with current statutory requirements. Further,
the bill would provide safe harbor to balloon payment loans, as long as
these loans meet all other qualified mortgage requirements. As amended, the
bill would clarify that systemically important financial institutions
(SIFIs) are excluded from the safe harbor provisions under the bill.” The
bill passed 255-174. [CQ, 11/18/15
<http://www.cq.com/doc/floorvote-252511000?10>; HR 1210, Vote 636, 11/18/15
<http://clerk.house.gov/evs/2015/roll636.xml>]

*The Bill Would Roll Back Regulations For Mortgages That Were Created To
Prevent The Bad Lending Practices That Led To The 2008 Financial Crisis –
It Would Extend An Exemption To A Rule From Just Small And Rural Banks To
All Banks. *“The House passed legislation Wednesday that critics argue
rolls back regulations for mortgages that were created to prevent the bad
lending practices responsible for the financial crisis of 2008. The
Portfolio Lending and Mortgage Access Act, which was introduced by Rep.
Andy Barr (R-Ky.), passed by a 255-174 vote. The bill extends a federal
exemption meant for small and rural banks to all banking institutions. The
Consumer Financial Protection Bureau (CFPB) issued regulations last year
that require lenders to ensure a borrower’s ability to repay a loan in
order to obtain a qualified mortgage status, which provides lenders a ‘safe
harbor’ protection from federal penalties and lawsuits brought by borrowers
who have defaulted on their loans. But the bureau created an exemption to
allow small and rural banks to achieve that qualified mortgage status
without following the ability-to-repay rule, which requires a borrower’s
debt-to-income ratio to be 43 percent or less. Banking organizations, which
support extending the exemption, argued that the rule was too restrictive
and caused mid-size community bankers to decrease or eliminate their
mortgage businesses.” [The Hill, 11/18/15
<http://thehill.com/blogs/floor-action/house/260658-house-votes-to-roll-back-mortgage-rules>
]

*Heck Voted To Exempt From The Prohibition Any Covered Depository
Institution That Limits Its Security-Based And Other Swap Activities To
Hedging And Other Similar Risk-Mitigation Activities.* In October 2013,
Heck voted for: “Passage of the bill that would amend a provision of the
2010 financial regulatory overhaul law that prohibits the federal bailout
of swaps dealers or participants. The bill would exempt from the
prohibition any covered depository institution that limits its
security-based and other swap activities to hedging and other similar
risk-mitigation activities. Non-structured and certain structured finance
swap activities also would be exempt. Under the bill, insured depository
institutions and uninsured U.S. branches of a foreign bank would be
considered covered depository institutions.” The bill passed 292-122. [CQ,
10/30/13 <http://www.cq.com/doc/floorvote-242056000?31&search=Vn0jQJRh>;
HR992, Vote 569, 10/30/13 <http://clerk.house.gov/evs/2013/roll569.xml>]

*Bill Rolled Back Major Elements Of The Dodd-Frank Financial Regulatory
Bill.* “The House of Representatives, with bipartisan support, passed
legislation on Wednesday that would roll back a major element of the 2010
law intended to strengthen the nation's financial regulations by allowing
big banks like Citigroup and JPMorgan Chase to continue to handle most
types of derivatives trades in house. The bill, which passed by a 292-122
vote, would repeal a requirement in the Dodd-Frank law that big banks ‘push
out’ some derivatives trading into separate units that are not backed by
the government's insurance fund.” [New York Times, 10/30/13
<http://dealbook.nytimes.com/2013/10/30/house-passes-bill-on-derivatives/>]

*A Swap Was A Type Of Securities Exchange, One Type, A Credit Default Swap,
Transferred Risk From The Owner Of A Stock To The Buyer Of A Swap In
Exchange For Period Payments.* “Credit default swap: A swap designed to
transfer credit risk, in effect a form of financial insurance. The buyer of
the swap makes periodic payments to the seller in return for protection in
the event of a default on a loan. […] Swap: An exchange of securities
between two parties. For example, if a firm in one country has a lower
fixed interest rate and one in another country has a lower floating
interest rate, an interest rate swap could be mutually beneficial.” [BBC
Magazine, 8/4/09
<http://news.bbc.co.uk/2/hi/uk_news/magazine/7642138.stm#swap>]

*Fortune Magazine: Credit Default Swaps “Played A Critical Role In The
Unfolding Financial Crisis.”* “As Congress wrestles with another bailout
bill to try to contain the financial contagion, there’s a potential killer
bug out there whose next movement can’t be predicted: the Credit Default
Swap.  In just over a decade these privately traded derivatives contracts
have ballooned from nothing into a $54.6 trillion market. CDS are the
fastest-growing major type of financial derivatives. More important,
they’ve played a critical role in the unfolding financial crisis. First, by
ostensibly providing ‘insurance’ on risky mortgage bonds, they encouraged
and enabled reckless behavior during the housing bubble.” [Fortune
Magazine, 9/30/08
<http://archive.fortune.com/2008/09/30/magazines/fortune/varchaver_derivatives_short.fortune/index.htm>
]

*… WHILE TAKING HUNDREDS OF THOUSANDS OF DOLLARS IN CAMPAIGN CONTRIBUTIONS
FROM THE FINANCIAL INDUSTRY*

*Heck’s Campaigns Received $324,619 From The Securities & Investment
Industry.* [Open Secrets, Joe Heck Career Top Industries, Accessed 5/2/16
<https://www.opensecrets.org/politicians/industries.php?cycle=Career&type=I&cid=N00031244&newMem=N&recs=20>
]

*Heck’s Campaigns Received $214,042 From The Insurance Industry.* [Open
Secrets, Joe Heck Career Top Industries, Accessed 5/2/16
<https://www.opensecrets.org/politicians/industries.php?cycle=Career&type=I&cid=N00031244&newMem=N&recs=20>
]

*Heck’s Campaigns Received $112,039 From The Commercial Banking
Industry. *[Open
Secrets, Joe Heck Career Top Industries, Accessed 5/2/16
<https://www.opensecrets.org/politicians/industries.php?cycle=Career&type=I&cid=N00031244&newMem=N&recs=20>
]

*Visual: *Picture of Cortez Masto

*Voiceover: *But During the crisis, Catherine Cortez Masto gave a
sweetheart contract worth millions to a DC law firm that then donated
thousands to her political campaigns.

*Text*: Catherine Cortez Masto “Special Relationship…paid off for Ms.
Masto” –The Wall Street Journal Editorial, 6/11/13

  *REALITY: NEVADA HISTORICALLY USED OUTSIDE COUNSEL WHEN TAKING ON BIG
INDUSTRY FOR ABUSES…*

*Carson Now: Nevada Has Frequently Used Outside Legal Counsel Over The Last
25 Years, Including In The Successful Prosecution Of Big Tobacco.*
According to an article by Sean Whaley of the Nevada News Bureau, “The
state has frequently employed outside legal firms for various matters over
the years, including the successful pursuit of a settlement agreement by
Nevada and other states against the nation’s big tobacco companies in the
1990s. Since the settlement was reached in 1998 under then-Attorney General
Frankie Sue Del Papa, Nevada has collected $505 million
<http://www.nevadanewsbureau.com/2012/02/02/controversy-over-state-use-of-outside-legal-counsel-expands-to-robo-signing-lawsuit/tobacco-funds/>for
a variety of programs through 2011.” [Carson Now, 2/2/12
<http://carsonnow.org/xfeed/02/02/2012/controversy-over-state-use-outside-legal-counsel-expands-robo-signing-lawsuit>
]

*New Mexico AG Gary King: Taking On Major Corporations Comes At A High
Cost, Having Outside Counsel Foot The Bills Upfront Helps “Level The
Playing Field On Behalf Of Consumers.”  *“Mr. King and other attorneys
general say lawsuits against major corporations or industry sectors can
require the hiring of expert witnesses and produce hundreds of thousands of
pages of documents that must be reviewed. All of this comes at a high cost,
and outside lawyers can foot the bills upfront. ‘It’s one of the only tools
I have to level the playing field on behalf of consumers, given the
significant financial firepower that big pharma, big banking and any number
of other industries have,’ Mr. King said. ‘The attorney general is
virtually the only protection the consumer has against abuse by those
industries.’” [New York Times, 12/18/14
<http://www.nytimes.com/2014/12/19/us/politics/lawyers-create-big-paydays-by-coaxing-attorneys-general-to-sue-.html>
]

*…AND THE CURRENT, REPUBLICAN ATTORNEY GENERAL USES OUTSIDE COUNSEL FOR BIG
CASES *

*September 2015: AG Adam Laxalt Hired Bancroft PLLC To Defend Legal Change
To Education Savings Account Program.* “Attorney General Adam Laxalt
announced Thursday that he has retained a nationally recognized law firm to
help defend against the ACLU legal challenge to the state’s new Education
Savings Account program. The firm Bancroft PLLC will provide the attorney
general’s office with legal strategy and analysis on the case, which Gov.
Brian Sandoval has urged be resolved as quickly as possible. Leading
Bancroft’s involvement in the case will be former U.S. Solicitor General
Paul D. Clement, who has argued over 75 cases before the U.S. Supreme Court
and is widely recognized as a top appellate advocate in the country.” [Las
Vegas Review-Journal, 9/17/15
<http://www.reviewjournal.com/news/education/law-firm-hired-help-defend-education-savings-account-program>
]

*Nevada Paid Bancroft PLLC $285,000 To Defend School Voucher Program. *“Nevada
is paying $285,000 to hire a famous lawyer to help defend the state's new
Education Savings Account program in two pending lawsuits. The Nevada Board
of Examiners voted Tuesday to approve the agreement with Bancroft PLLC, the
law firm of former U.S. Solicitor General Paul Clement.” [Associated Press,
11/10/15
<http://m.apnews.com/ap/db_268748/contentdetail.htm?contentguid=b1thAsmZ&utm_source=android_app&utm_medium=twitter&utm_campaign=share>
]

*Nevada Board Of Examiners Approved The Bancroft PLLC Contract. *“The
Nevada Board of Examiners voted Tuesday to approve the agreement with
Bancroft PLLC, the law firm of former U.S. Solicitor General Paul Clement.
Clement has argued more cases before the U.S. Supreme Court since 2000 than
any other lawyer. Nick Trutanich of the Nevada Attorney General’s Office
testified that the law firm invested 500 hours so far defending the school
choice program, which would normally cost $375,000. Gov. Brian Sandoval
said the briefs Bancroft filed urging the court to dismiss the legal
challenges are among the best he’s ever seen.” [Associated Press, 11/10/15
<http://m.apnews.com/ap/db_268748/contentdetail.htm?contentguid=b1thAsmZ&utm_source=android_app&utm_medium=twitter&utm_campaign=share>
]

*REALITY: THE BOARD OF EXAMINERS, INCLUDING A REPUBLICAN GOVERNOR AND THE
SECRETARY OF STATE, APPROVED THE HIRING OF OUTSIDE COUNSEL…*

*December 8, 2009: Board Of Examiners Approved Cortez Masto Contract To
Hire Cohen Milstein As Special Counsel On Contingency Fee To Pursue
Mortgage Lending Cases. *On December 8, 2009, Nevada Board of Examiners
approved Attorney General’s contract to hire Cohen Milstein on contingency
fee: “This is a new contract to provide the Office of the Attorney
General’s Bureau of Consumer Protection with special counsel pursuant to
NRS 41.03435 to serve and assist in the matter of prosecution of all
available civil claims, damages, civil penalties, restitution, disgorgement
of profits, injunctions against all appropriate defendants related to
collectivity ‘lending practices’ including, but not limited to and
deception, deceptive act or practice, fraud, false pretense,
misrepresentation, or concealment, suppression or omission of any material
fact as to the Lending Practices (collectively, the ‘Acts’ and/or
Litigation).” [Board of Examiners, Meeting Agenda, 12/8/09
<http://budget.nv.gov/uploadedFiles/budget.nv.gov/content/Meetings/Board_of_Examiners/2010(1)/Q4/BOE%20AGENDA%202009-12-08.pdf>
]

*The Board Of Examiners Consists Of The Governor, The Attorney General And
The Secretary Of State.* “The State Board of Examiners (BOE) was created by
Nevada Revised Statute 353.010. Its purpose is to review claims for payment
pursuant to an appropriation or authorization by the Legislature. The Board
consists of the Governor, the Secretary of State and the Attorney General.”
[Nevada Board of Examiners, accessed 5/2/16
<http://budget.nv.gov/Board-of-Examiners/>]

*Cohen Milstein’s Broad Mandate Allowed Them To Seek Compensation For
Anyone In The State Who Was Harmed By Fraudulent Mortgage Lending
Practices. *“Though Ms. Singer, 48, served just a year as attorney general
in the District of Columbia, she had a long prior tenure in public service
jobs, and she referred to her work at Cohen Milstein as an extension of her
commitment to serving the public good. […] Nevada hired her firm in 2009,
under a contract that had an exceptionally broad mandate: to seek
compensation for anyone in the state who was harmed as a result of
fraudulent mortgage lending practices. And Ms. Singer negotiated a
settlement with Bank of America that generated an extra $38 million for
Nevada, and $5.6 million for her firm — reflecting a 15 percent fee.” [New
York Times, 12/18/14
<http://www.nytimes.com/2014/12/19/us/politics/lawyers-create-big-paydays-by-coaxing-attorneys-general-to-sue-.html>
]

*…AND THE CONTRACT ONLY ALLOWED THE LAW FIRM TO COLLECT FEES IF IT WON THE
CASE FOR NEVADA TAXPAYERS*

*New Mexico AG Gary King: Contingency Fee Reduces Risk To The Taxpayers
Because Law Firms Cover The Upfront Cost.* “Much as big industries have
found natural allies in Republican attorneys general to combat federal
regulations, plaintiffs’ lawyers working on a contingency-fee basis have
teamed up mostly with Democratic state attorneys general to file hundreds
of lawsuits against businesses that make anything from pharmaceuticals to
snack foods. […] But Mr. King said that because Cohen Milstein was covering
most of the cost, there was little risk to the state, adding that he was
receptive to this approach because of what he said had been a disturbing
pattern of abuse in his state’s nursing homes. ‘The court system in America
is a good way to determine if that is a sufficient argument,’ Mr. King
said.” [New York Times, 12/18/14
<http://www.nytimes.com/2014/12/19/us/politics/lawyers-create-big-paydays-by-coaxing-attorneys-general-to-sue-.html>
]

*New York Times: Cohen Milstein Won An Extra $38 Million For Nevada And
Collected A 15% Fee On The Judgment. *“Though Ms. Singer, 48, served just a
year as attorney general in the District of Columbia, she had a long prior
tenure in public service jobs, and she referred to her work at Cohen
Milstein as an extension of her commitment to serving the public good. […]
Nevada hired her firm in 2009, under a contract that had an exceptionally
broad mandate: to seek compensation for anyone in the state who was harmed
as a result of fraudulent mortgage lending practices. And Ms. Singer
negotiated a settlement with Bank of America that generated an extra $38
million for Nevada, and $5.6 million for her firm — reflecting a 15 percent
fee.” [New York Times, 12/18/14
<http://www.nytimes.com/2014/12/19/us/politics/lawyers-create-big-paydays-by-coaxing-attorneys-general-to-sue-.html>
]

*Visual: *Cortez Masto at a table with lawyers around her taking notes

*Voiceover:* The New York Times Called this kind practice cozy.

*Text: *“kind of coziness” –The New York Times, 12/18/14

*Visual:* Cortez Masto talking to an aide, looking at a book

*Voiceover: *The Wall Street Journal said these contracts are one of the
dirtier aspects of politics.

*Text: “*one of the dirtier practices in modern politics” –The Wall Street
Journal Editorial, 6/11/13

*THE TRUTH: HECK **PRAISED THE U.S. FORECLOSURE SETTLEMENT BY ATTORNEY
GENERAL CORTEZ MASTO*

*GOP Congressman Heck Praised National Mortgage Settlement: “**At **A Time
When **Nevada **Families Are Struggling The Most To Make Ends Meet, I Have
High Hopes This Settlement Will Provide Nevada Homeowners Much Needed
Relief.” *“Rep. Joe Heck, R-Nev., said he is ‘happy to see that an
agreement was reached. At a time when Nevada families are struggling the
most to make ends meet, I have high hopes that this settlement will provide
them much needed relief.’” [Las Vegas Review-Journal, 2/9/12
<http://www.reviewjournal.com/business/housing/nevada-joins-states-25-billion-foreclosure-abuse-deal>
]

*THE REALITY: CORTEZ MASTO WAS ONE OF THE FIRST ATTORNEYS GENERAL TO TAKE
ON THE BIG BANKS FOR MORTGAGE FRAUD…*

*December 2010: Cortez Masto Filed Lawsuit Against Bank Of America For
Foreclosures Abuses:* *“We Are Holding Bank Of America Accountable For
Misleading And Deceiving Consumers.” *“The Nevada Attorney General’s office
sued Bank of America Friday morning for allegedly deceiving homeowners
through its residential loan modification and foreclosure practices. The
lawsuit, filed in Clark County District Court and triggered by consumer
complaints, named as defendants the bank’s parent company as well as BAC
Home Loans Servicing, LP, Recon Trust Co. ‘We are holding Bank of America
accountable for misleading and deceiving consumers,’ Nevada Attorney
General Catherine Cortez Masto said. ‘Nevadans who were trying desperately
to save their homes were unable to get truthful information in order to
make critical life decisions.’” [Las Vegas Sun, 12/17/10
<http://lasvegassun.com/news/2010/dec/17/state-ags-office-sues-bank-america/>
]

*October 2010: Ohio AG Richard Cordray Launched The First Major Legal
Challenge To Bank Foreclosure Abuses Against Ally Financial. *“This week we
saw the first major legal challenge to the mortgage servicers and lenders
at the center of the kerfuffle over ‘robo-signers’—the mortgage servicer
employees who allegedly signed thousands of documents authorizing
foreclosures across the country, without actually having reviewed the loan
documents, as the law requires. Some say these middle-manager types (who
have been identified at GMAC Mortgage LLC, J.P. Morgan Chase & Co., Bank of
America Corp. and OneWest Bank, in depositions by consumer lawyers), if
they did what they say they did, committed fraud in hundreds and even
thousands of foreclosure cases by claiming knowledge of a financial matter
of which they had no personal knowledge. This chaffed Ohio Attorney General
Richard Cordray so badly that he filed suit Wednesday against GMAC and its
parent company Ally Financial Inc., seeking $25,000 in civil penalties for
each instance of fraud, plus untold thousands of dollars more in consumer
restitution.” [Wall Street Journal, 10/7/10
<http://blogs.wsj.com/developments/2010/10/07/debate-over-robo-signers-did-they-commit-fraud/>
]

*Cortez Masto AG’s Office Investigated More Than 200 Companies For Mortgage
Fraud. *“More than 200 companies are under criminal investigation for
mortgage fraud with ties to such things as identity theft and prostitution,
Attorney General Catherine Cortez Masto says. Edith Cartwright of the
attorney general’s office said many of those companies have 50 to 100
complaints against them. Masto outlined her budget to the Assembly Ways and
Means Committee on Monday, saying she has two attorneys and three
investigators to handle the criminal cases. The office also has a federal
grant to hire two lawyers and four more investigators. Masto said the
investigations center on mortgage foreclosure rescue scams or loan
modification scams. ‘They are looking at various ways to scam people,’ the
attorney general said. ‘This is the easiest to set up shop and try to start
taking dollars from mortgage fraud. But they are organized and they engage
in other types of crime besides the mortgage fraud.’” [Las Vegas Sun,
2/21/11]

*AG Cortez Masto’s Mortgage Fraud Unit Was “Among The Most Aggressive In
The Country.”* According to a report by Colleen McCarty of KLAS, “Nevada's
mortgage Fraud Task Force -- arguably among the most aggressive in the
country -- has undergone some dramatic changes in the last few months. […]
Since the task force's inception in 2007, the task force has served as a
trailblazer for criminal prosecutions of housing-related crime. Its
developed a national reputation built on complex cases involving loan
modification fraud, foreclosure scams and robosigning.” [KLAS, 7/3/12
<http://www.8newsnow.com/story/18947419/i-team-former-deputy-ag?clienttype=printable>
]

*...AND RECEIVED PRAISE FROM REPUBLICANS AND DEMOCRATS ALIKE FOR SECURING
$1.9 BILLION IN RELIEF FOR NEVADA HOMEOWNERS*

*Cortez Masto Played An Important Role In Mortgage Settlements Totaling At
Least $1.9 Billion Helping Nevada Homeowners Hurt By The Foreclosure
Crisis.* “The process of fact checking involves reporting the facts as best
known at the time. When new facts arise, verdicts can change. That happened
here. Regarding Cortez Masto’s campaign video, the claim is correct that
she played an important role in mortgage settlements totaling at least $1.9
billion that held banks accountable and helped Nevada homeowners hurt by
the foreclosure crisis. Truth meter: 9 (out of 10).” [Reno Gazette-Journal
3/23/16
<http://www.rgj.com/story/news/politics/2016/03/23/fact-checker-change-cortez-masto-ad-correct/82185664/>
]

*Cortez Masto Helped People Suffering Through The “Worst Mortgage Crisis In
History, Ground Zero For The Crisis Nationally, Using One Of The Smallest
Attorney General's Offices In The Country.”* “Attorney General Catherine
Cortez-Masto is also term limited, but wouldn't disclose any plans to run
for another office. She detailed her accomplishments since January 2007.
Her biggest task was helping people suffering in a state with the worst
mortgage crisis in history, ground zero for the crisis nationally, using
one of the smallest attorney general's offices in the country, with a staff
of 365 employees including 155 attorneys and 48 peace officers.” [Pahrump
Valley Times, 10/30/13
<http://pvtimes.com/news/kulkin-announces-bid-lieutenant-governor.html?m=>]

*GOP Former Washington AG Rob McKenna: Cortez Masto Improved The National
Mortgage Settlement For Nevada And Held The Banks More Fully
Accountable. *“Strong
independent evidence came today. Her campaign emailed a quote about her
role in the national settlement from attorney Rob McKenna. He wrote, ‘As
Attorney General of Washington, I served on the National Mortgage
Settlement Executive Committee. I saw firsthand Catherine Cortez Masto’s
successful efforts to improve the settlement for Nevada residents and hold
the banks more fully accountable. Catherine helped improve the settlement’s
initial terms, such as: allowing states to seek additional litigation
against the banks. Catherine also secured a separate agreement for Nevada
with Bank of America. Due to Catherine’s efforts on the National Mortgage
Settlement, as well as other litigation she pursued against the banks,
Nevada received more than $1.9 billion in relief for struggling
homeowners.’ It is obviously key that he was part of the executive
committee behind the ultimate terms of the national settlement. Also
significant is the fact that McKenna is a Republican.” [Reno
Gazette-Journal 3/23/16
<http://www.rgj.com/story/news/politics/2016/03/23/fact-checker-change-cortez-masto-ad-correct/82185664/>
]

*DEM & GOP Attorneys General For Arkansas, Illinois, And Nebraska All
Praised Cortez Masto’s Work On The National Mortgage Settlement. *“The
campaign also sent similar testimonials from former Arkansas Attorney
General Dustin McDaniel, Illinois Attorney General Lisa Madigan and former
Nebraska Attorney General Jon Bruning. […] Regarding Cortez Masto’s
campaign video, the claim is correct that she played an important role in
mortgage settlements totaling at least $1.9 billion that held banks
accountable and helped Nevada homeowners hurt by the foreclosure crisis.”
[Reno Gazette-Journal 3/23/16
<http://www.rgj.com/story/news/politics/2016/03/23/fact-checker-change-cortez-masto-ad-correct/82185664/>
]

*DEM Sen. Reid Praised Cortez Masto For National Mortgage Settlement: “I'm
Very Proud Of Her And Confident That The Work She Did Will Bring Dividends
To The Beleaguered Housing Industry In Nevada.” *“Senate Majority Leader
Harry Reid, D-Nev., praised Masto for her role in negotiating a settlement
for Nevada. ‘I'm very proud of her and confident that the work she did will
bring dividends to the beleaguered housing industry in Nevada,’ Reid said
on the Senate floor Thursday.” [Las Vegas Review-Journal, 2/9/12
<http://www.reviewjournal.com/business/housing/nevada-joins-states-25-billion-foreclosure-abuse-deal>
]

*GOP Sen. Heller: The Settlement Will Provide More Protection And Some
Relief To Nevada Homeowners. *“Sen. Dean Heller, R-Nev., said he was
pleased that the settlement would provide more protection and some relief
to Nevada homeowners. ‘No state has been hit harder by the foreclosure
crisis than Nevada,’ Heller said in a statement. ‘Unfortunately, abuses by
the banking industry made a bad situation worse. Actions by the banking
industry helped create this housing crisis. They have an obligation to help
get us out.’” [Las Vegas Review-Journal, 2/9/12
<http://www.reviewjournal.com/business/housing/nevada-joins-states-25-billion-foreclosure-abuse-deal>
]

*GOP Gov. Sandoval Praised Cortez Masto For Support Of “Home Means Nevada,”
A Program For Home Loan Modifications. *“A program intended to help
distressed Nevada homeowners stay in their homes with loan modifications
has been given final approval and is underway. Officials on Friday
announced that a state-affiliated nonprofit group, Home Means Nevada, has
finalized an agreement with the U.S. Department of Housing and Urban
Development to buy a pool of mortgages. The nonprofit will then determine
if those homeowners qualify for loan modifications. About 450 homes will be
part of the first round, said Teri Williams, spokeswoman for the Nevada
Department of Business and Industry. If a homeowner owes more than current
market value, the principal balance may be reduced. For borrowers unable to
qualify, they will be provided transitional assistance. […] Sandoval also
acknowledged U.S. Sen. Harry Reid, D-Nev., Democratic Attorney General
Catherine Cortez Masto and state lawmakers for their support of the
program.” [Associated Press, 5/2/14
<http://www.washingtontimes.com/news/2014/may/2/program-aims-to-help-distressed-nevada-homeowners/>
]

*HUD Secretary Shaun Donovan: Cortez Masto Was “Very Deeply Involved” In
The Settlement Negotiations And Nevada Will Receive One Of The Largest
Benefits Because It Was One Of The Hardest Hits States And The Separate
Bank Of America Case. *DONOVAN: “Well, Nevada is, as you say, one of the
places that was hardest hit and I have to compliment your attorney general,
Catherine Cortez Masto, who was very deeply involved in the settlement
negotiations, has done extensive investigations, and will be part of the
monitoring committee, working with the monitor that I talked about to make
sure that banks live up to these promises. Because it was one of the
hardest hit states, Nevada will get -- will be in the top five of the
largest benefits from the settlement, about $1.5 billion will go to Nevada
for help, and. because of separate cases that your attorney general
brought. there are additional benefits that will be coming to Nevada, as
well. The other thing I should mention is that Bank of America has
committed, because of the extent of the lending that Countrywide did in
states like Nevada, has committed to a special program that will provide
deeper principal reduction and they’ve agreed to go out and -- and to reach
to every -- every Countrywide borrower who is more than 60 days delinquent
and underwater on their loan. So, because Countrywide lending was so
extensive in Nevada, that is a special benefit to Nevada families that have
been hard hit.” [Housing And Urban Development Secretary Shaun Donovan
Teleconference, 2/10/12 <http://www.cq.com/doc/financialtranscripts-4027203>
]

*National Notary Association CEO Tom Heymann: Cortez Masto Has Shown
“Unwavering Dedication” To Remedying The Housing Crisis And Has “Emerged As
A Beacon Of Strength And National Leadership.” *According to a release by
the National Notary Association, “‘Attorney General Cortez Masto has shown
unwavering dedication to remedying a nationwide crisis that has mortgage
servicers rethinking their approach to the supervision and training of
Notaries,” said NNA Chief Executive Officer Tom Heymann. ‘In doing so, she
has emerged as a beacon of strength and national leadership.’” [National
Notary Association press release, 5/10/12
<http://www.nationalnotary.org/press-center/press-releases/nna-honors-nevada-attorney-general-masto>
]

*Visual: *Black and White picture of Cortez Masto

*Text: *Catherine Cortez Masto Another Special Interest Politician

*Voiceover: *Catherine Cortez Masto Another Special Interest Politician

*Text: *Freedom Partners Action Fund Paid For And Is Responsible For The
Content Of This Advertising. Not Authorized By Any Candidate Of candidate’s
Committee. FPACTION.ORG

*THE TRUTH: KOCH BROTHERS ARE SPENDING MILLIONS PROPPING UP CONGRESSMAN
HECK BECAUSE HECK VOTES FOR THEIR AGENDA*

*Heck Has Voted With Americans For Prosperity 88% Of The Time.* According
to the Americans for Prosperity website, Heck supported Americans for
Prosperity’s positions 100 percent of the time during 2013. [Americans for
Prosperity, Scorecard, Accessed 12/22/15 <http://afpscorecard.org/#member>]

*2013: Heck Voted With Americans For Prosperity 100% Of The Time.*
According to the Americans for Prosperity website, Heck supported Americans
for Prosperity’s positions 100 percent of the time during 2013. [Americans
for Prosperity, Scorecard, Accessed 12/22/15
<http://afpscorecard.org/#member>]

*Political Science Professor Fred Lokken: “You Know Already That The Koch
Brothers And Others Have Indicated They Will Dump Money [In Support Of
Heck].”* In July 2015, political columnist Ray Hagar wrote: “Fred Lokken, a
political science professor at Truckee Meadows Community College, agreed
that outside PAC money will help Heck more than Cortez Masto. ‘You know
already that the Koch brothers and others have indicated they will dump
money (in support of Heck),’ Lokken said.” [Reno Gazette- Journal, Ray
Hagar, 7/10/15]

*Koch Industries PAC Contributed At Least $35,000 To Heck.* From 2009-2015,
Koch Industries contributed $35,000 to Heck, all through PACs.
[OpenSecrets, Joe Heck, Top Contributors, Career Profile, Accessed
10/21/15]

*The Hill: Many Of Heck’s Donors Are Connected To The Koch Brothers.*
According to an article by Jonathan Swan of The Hill, “Conservative donors
across the country are already sending his campaign checks, and many of
these donors are connected to the powerful network helmed by billionaire
industrialists Charles and David Koch.” [The Hill, 12/22/15]

*Koch Brothers Funded Americans For Prosperity Ran Ads Supporting Heck.*
“As for Reid taking on the Koch brothers, the tactic may be a way to divert
attention from difficulties Americans are having with President Barack
Obama’s health insurance law, Duffy said. The Koch brothers are putting
tens of millions of dollars behind Senate candidates with the aim of giving
Republicans control of the upper house. The brothers also are among the
most generous donors to Americans for Prosperity, which is running ads to
support Heck.” [Las Vegas Review-Journal, 3/16/14]

*Americans For Prosperity Made $200,000 2-Week Ad-Buy Supporting Heck,
Thanking Him For Opposing Affordable Care Act.* “Eight months before the
Nov. 4 general election, Nevada’s most competitive congressional contest is
heating up. Last week, Americans for Prosperity launched its second TV ad
praising U.S. Rep. Joe Heck , R-Nev., who is running for his third term. He
represents the 3rd Congressional District in Southern Nevada, including
Henderson and most of unincorporated Clark County. The seat has switched
parties several times since its creation after the 2000 census. The
30-second commercial thanks Heck for opposing President Barack Obama’s
Affordable Care Act, popularly known as Obamacare. The ad is running for
two weeks at a cost of about $200,000, according to an insider.” [Las Vegas
Review-Journal, 3/10/14]

*Headline: Bloomberg: “Dark Money Dominates Political Ad Spending.” *
[Bloomberg, 1/28/16]

*Koch Brothers Dark Money Group Concerned Veterans For America Has Spent
Almost $2.4 Million During 2016 Election Cycle.* “Dark money groups are
also bearing down on Senate races, where groups have spent more than $39
million since the start of 2015, according to the CMAG data. For example,
Senator Pat Toomey, a Pennsylvania Republican, featured in more than $7.1
million worth of ads. The U.S. Chamber of Commerce, the American Chemistry
Council and Concerned Veterans for America, a nonprofit with links to the
network of organizations created by Charles and David Koch, spent almost
$2.4 million touting aspects of Toomey’s record.” [Bloomberg, 1/28/16]

*Las Vegas Sun: Koch Brothers Shelling Out $1 Million For Television And
Digital Ads Targeting Catherine Cortez Masto.* According to an article by
Megan Messerly of the Las Vegas Sun, “A Koch brothers-backed group
announced today it is shelling out $1 million for television and digital
ads targeting Democratic U.S. Senate candidate Catherine Cortez Masto. […]

The ads are paid for by the conservative-learning super PAC Freedom
Partners Action Fund, part of the network of organizations affiliated with
conservative billionaires Charles and David Koch.” [Las Vegas Sun, 5/2/16
<..:..:..:Applications:Microsoft%20Office%202011:Microsoft%20Word.app:Contents:The%20ads%20are%20paid%20for%20by%20the%20conservative-learning%20super%20PAC%20Freedom%20Partners%20Action%20Fund,%20part%20of%20the%20network%20of%20organizations%20affiliated%20with%20conservative%20billionaires%20Charles%20and%20David%20Koch.>
]

*Las Vegas Sun: Koch Brothers Already Spent $700,000 In Ads Propping Up
Congressman Heck.* According to an article by Megan Messerly of the Las
Vegas Sun, “This isn’t the first Koch-backed group to spend money on this
Senate race this year. In March, the veterans-focused group Conservative
Veterans of America spent $700,000 lauding Republican Rep. Joe Heck for his
service to veterans in Congress.” [Las Vegas Sun, 5/2/16
<..:..:..:Applications:Microsoft%20Office%202011:Microsoft%20Word.app:Contents:The%20ads%20are%20paid%20for%20by%20the%20conservative-learning%20super%20PAC%20Freedom%20Partners%20Action%20Fund,%20part%20of%20the%20network%20of%20organizations%20affiliated%20with%20conservative%20billionaires%20Charles%20and%20David%20Koch.>
]

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