Originally Posted By: Kanektok Kid
In 2004, the FBI reported that fraud in the mortgage market was an epidemic. They have reported 80% of the fraud so far investigated was on the lender side.

We're not talking about stupid loan officers allowing borrowers to get away with something crazy that is bad for the bank. We're talking about clever loan officers pushing fraudulent documents in order to score bigger paychecks, and bank executives looking the other way so that they can keep getting big paychecks from the securitization machine.

This is how the U.S. mortgage system operated for half a decade.


Clever loan officers pushing fraudulent docs huh? I knew many, many loan officers, most of them weren't that clever.

And you know this from your extensive experience in retail and secondary mortgage markets?

Please KK. Go back to something you know about,.......fantasizing about TeaBagging.


Edited by StinkingWaters (04/26/10 09:45 PM)
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