Holder 2016!!! As far back as 2004, the FBI warned of an “epidemic” of mortgage fraud, which they said would have “as much impact as the Savings & Loan crisis.” They were wrong; it was worse. And banks and lenders carried through that fraud to every level of the mortgage process. They committed origination fraud through faulty appraisals and undisclosed trickery. They committed servicing fraud through illegal fees and unnecessary foreclosures. They committed securities fraud by failing to inform investors of the poor underwriting on loans they packaged into securities. They committed mass document fraud when they failed to follow the steps to create mortgage-backed securities, covering up with fabrications and forgeries to prove the standing to foreclose. By the time the bubble collapsed, the recession hit and Holder took over the Justice Department, Wall Street was a target-rich environment for any federal prosecutor. Physical evidence to an untold number of crimes was available in court filings and county recording offices. theguardian/money/us-money-blog/2014/sep/25/eric-holder-resign-mortgage-abuses-americans
Posted on: Mon, 22 Dec 2014 20:57:49 +0000
Trending Topics
Recently Viewed Topics
© 2015