Richard Cordray lost his bid for re-election as Ohio's attorney general (AG) Tuesday, falling to Republican nominee Mike DeWine. DeWine captured 48% of the votes compared to Cordray's 46%, The Cleveland Plain Dealer reports.
Cordray has been one of the most vocal state AGs in criticizing mortgage servicers over not only foreclosure process flaws but also servicers' responses to borrower requests for loan modifications. His office has sued several servicers in the past year, including GMAC Mortgage most recently.
The Office of the Ohio Attorney General is a member of the executive committee directing the 50-state AG investigation into the servicing industry. The committee includes 12 AGs, five of whom were up for re-election Tuesday. The other four AGs up for re-election – Colorado's John Suthers, Illinois' Lisa Madigan, Texas' Greg Abbott and Iowa's Tom Miller – won their respective races.
In the U.S. House, Rep. Paul Kanjorski, D-Pa., was defeated by Hazleton, Pa., mayor Lou Barletta, the Scranton Times-Tribune reports. Kanjorski currently chairs the House subcommittee tasked with overseeing government-sponsored enterprises Fannie Mae and Freddie Mac.