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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Subprime Write-Downs Hit $174B, Suits To Rise

Portfolio Media, New York (January 15, 2008)--Companies burned in the subprime meltdown have wiped a staggering $174 billion from their books and face an "avalanche" of lawsuits, according to a report by insurance analysts Advisen Ltd.

And that figure, which includes Citigroup's $18 billion write-down revealed Tuesday, is just the beginning, Advisen Editor-in-Chief Dave Bradford said. He said he expects the situation to worsen as more companies release fourth-quarter earnings...

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Ed Cage

Here's the site for the above article:
http://financialservices.law360.com/Secure/ViewArticle.aspx?id=44106

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