Mortgage Servicing Fraud
occurs post loan origination when mortgage servicers use false statements and book-keeping entries, fabricated assignments, forged signatures and utter counterfeit intangible Notes to take a homeowner's property and equity.
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Banks that Financed Subprime Industry Collecting Billions in Bailouts 
  As if we didn't know . . .

Today, the Center for Public Integrity releases the results of its investigation into the housing crisis, which showed that investment banks, some of which were recipients of billions of taxpayer dollars through the federal bailout, made major investments in subprime lending.

"The top subprime lenders whose loans are largely blamed for triggering the global economic meltdown were owned or bankrolled by banks now collecting billions of dollars in bailout money -- including several that have paid huge fines to settle predatory lending charges," write John Dunbar and David Donald.

"The banks made huge profits and executives collected handsome bonuses until the bottom fell out of the real estate market."

According to their analysis, 21 of the top 25 subprime lenders were either owned or partly financed by one or more of the top bailed-out banks.

Among those banks: Lehman Brothers, Merrill Lynch, JP Morgan, Citigroup, Goldman Sachs.

Click here to read the rest of the report.

Here is the list of the top 25 subprime lenders based on the center's analysis of data collected on almost 7.2 million high-interest mortgages.
The center's investigation also features maps showing where the top 25 subprime lenders originated most of their high-interest mortgages from 2005 through 2007, the period that marks the peak and collapse of the subprime boom. 

http://www.publicintegrity.org/investigations/economic_meltdown/articles/entry/1286/


 

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PopulistRage

A report was needed to tell us this?

Next they will give us a report saying that water is wet.

 

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The Equitable One
Actually yes.

Those of us involved in the issue, or the select few not involved that have scratched beneath the surface of what the media typically offers the masses as being the truth, don't need it.

But we are still in the minority.

The masses do need it. Without some sort of authoritative mouthpiece uttering the words they will not give any credibility to the truth.

Funny, but I find the courts to be similarly inclined, and similarly ignorant.

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4 Justice Now
The Equitable One is right!

Because this fraud has impacted our lives so directly and in such a negative manner we sometimes forget that the public in general still hasn't really caught on, or even acknowledged what has taken place much less thought about who was responsible for it all.

And for the most part the media simply tells them just what it is that the banks want them to beleive, and we all know in most cases anyway that that is anything but the truth.

R,

4J
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tired and tattered
Does anyone wonder why the fraud continues and that people that are now buying homes are going to go through the same thing in the future? These same people that are frauding all of us out of our homes and got by with it are just continuing business as usual. I heard today that with home prices going down and with interest rates being so low that people that couldn't buy a house a few years ago will now be able to. HUH!!! As I recall, we were all blamed for buying MORE HOUSE THAN WE COULD AFFORD. OR WE SHOULD HAVE NEVER BEEN GIVEN A LOAN. Isn't this the same thing? I'm no rocket scientist but I see that nothing has changed. They will continue to steal and deceive all of us. No one is doing anything to stop it. Once they succeed in removing us from our homes they should be FORCED TO TAKE OVER THE DEED AND THE TITLE. THEY SHOULD NOT BE ALLOWED TO KEEP THEM IN OUR NAMES WHEN WE CAN NOT LIVE IN THE HOMES. THIS IS NOT LEGAL YET THEY GET BY WITH IT. HOW DOES THIS HAPPEN. THE FRAUD CONTINUES.

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