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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Does anyone know if the JP Morgan hedge fund shorted WaMu Bank's stock last fall, it would have been over the summer of 2008 and first half of September.

Very interesting cases on WaMu, Washington Mutual, in the bankruptcy WaMu, Inc. filed and made claims against JP Morgan. Then JP Morgan made claims back against WaMu, Inc. Contains great info for those of you involved with these bad guys.

District of Columbia case 1:09-cv-00533.
Delaware case 08-12229

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Big Mac
Senate Probes Goldman Sachs and Other Major Banks for Meltdown Fraud

Senate Probes Goldman Sachs and Other Major Banks for Meltdown Fraud

By Ron Haruni|Jul 30, 2009, 2:14 PM|Author's Website  

Goldman Sachs (NYSE:GS) and Deutsche Bank AG (NYSE:DB) were issued subpoenas by a U.S. Senate panel seeking evidence of fraud in the 2008 mortgage-market meltdown, the WSJ reports, citing people familiar with the matter.

The direction of the congressional investigation, notes the Journal, is focused on whether internal communications show executives at the banks had private doubts on the soundness of the mortgage-related securities they were putting together, and if these securities, which  played a big role in accelerating last year’s financial crisis, were as financially sound as their public pronouncements suggested.

The people familiar with the situation told the Journal that the Senate panel also has issued a subpoena to Washington Mutual Inc, which is now mostly owned by JPMorgan Chase & Co. (NYSE:JPM). The paper also said it appears likely that several other financial institutions may have also received subpoenas from the Senate Permanent Subcommittee on Investigations, headed by Senator Carl Levin (D., Mich.).

The subpoenas are the latest in a series of moves by Congress to trace the roots and the implications that led to the financial crisis. Implications that progressively started to build in the repo market where MBS and other assets were used as collateral for loans. Because of the collateralization, these loans were perceived as  safe, but the securities turned out to be way more riskier than borrowers and lenders had thought, consequently creating the conditions of an impending disaster.

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