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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Goldman, Morgan Stanley Probed - News & Analysis - Banks - MS - GS

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Blumner: Blame the thugs in suits for subprime mortgage disaster
Salt Lake Tribune - Jan 27, 2008
The banks weren't left holding the bag; they made a nice profit by selling those loans to Wall Street banks, who then spun them into more gold by transforming them into investment instruments.
 
Morgan Stanley Reclassifies Assets, Receives Subpoenas on Subprime ...
Wall Street Journal - 3 hours ago
By JARED A. FAVOLE Morgan Stanley Tuesday said it has received subpoenas and requests for information from regulators relating to subprime mortgages, and separately reclassified $7 billion of assets as Level 3 from Level 2, meaning they are more ...
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