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Colo. real estate division chief on leave as legislators debate mortgage-broker oversight

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Erin Toll, director of the Colorado Division of Real Estate, is on leave from her job, and the nature of her absence is unclear.

The news follows on the heels of a controversy related to the division’s investigation into a company that employs state Sen. Ted Harvey, R-Highlands Ranch, and a debate related to Toll’s oversight of mortgage brokers.

Spokesmen for the division and for Gov. Bill Ritter declined to comment because it is a personnel matter.

Toll also declined to comment.

Toll became a target of criticism this month after her office disclosed that American Home Funding, which employs Harvey as a broker, was under investigation for allegedly sending out advertising fliers designed to look like official tax documents.

After the investigation became public, the division sent out a news release clarifying that Harvey was not the target of the investigation.

Harvey could not be reached for comment Tuesday evening.

On Friday, the Senate approved an amendment to a mortgage regulation bill that would strip Toll of her authority to regulate mortgage brokers, replacing her with a board that would be appointed by the governor.

Supporters of the amendment noted that it was an issue of fairness because others in the real estate industry are regulated by boards.

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