Did Andrew Cuomo Help Himself at the Expense of Consumers?
New York State Attorney General Andrew Cuomo made headlines last year when he began an investigation into now-defunct Washington Mutual Bank’s – aka WaMu – unholy relationship with eAppraiseIT....
View ArticleNo-nonsense Orange County D.A. Combats Real Estate Fraud
Speaking at a foreclosure prevention workshop last week, Orange County District Attorney Tony Rackauckas and Assistant District Attorney Elizabeth Henderson, made it clear that their latest mission is...
View ArticleFinally: Countrywide’s Angelo Mozilo to face the SEC for fraud
After what seems to be an eternity to jilted investors and an army of employees who lost their jobs, former Countrywide CEO Angelo Mozilo was denied his request to dismiss charges of securities fraud...
View ArticleLaguna Beach father and son charged with appraisal fraud
A father and son team of appraisers who worked closely with subprime lender Quick Loan Funding in Costa Mesa have been charged with appraisal fraud by the Orange County District Attorney’s Office. the...
View ArticleRecognizing the Good Guys – SEC Investigators Get Award
This blog usually concerns itself with arrests, prosecutions and convictions for real estate fraud and mortgage fraud. Today, I’m happy to write that eight investigators with the SEC have been honored...
View Article“Fraud Pays” According to Former Auditor in GE Subprime Unit
In 2004, corporate giant General Electric (GE) jumped into the booming subprime market by purchasing WMC Mortgage Corp. in Burbank. In short time, WMC loan officers, who, according to a former auditor,...
View ArticleHow Bank of America’s Lending Standards Will Affect the Housing Market.
After being stung by billions in penalties and judgments related to the subprime lending standards of its Countrywide Financial acquisition, Bank of America CEO Brian Moynihan bluntly stated that...
View ArticleIs Eric Holder a Traitor to the People and a Shill to the Banks?
If you have time – maybe a long coffee break – you may want to read this fascinating article in Rolling Stone about the settlement between Attorney General Eric Holder, “his” Department of Justice and...
View ArticleUS-DOJ Sues Former Deutsche Bank Trading Executive Over Role in Mortgage Fraud
United States Department of Justice is suing the former head of subprime mortgage trading at Deutsche Bank for “systematically and intentionally” lying about the quality of subprime mortgages that...
View ArticleGE Agrees to Pay $1.5 Billion Fine over Mortgage Crisis Subprime Lending
General Electric Company has reached an accord with the U.S. Department of Justice to pay a $1.5 billion civil fine to resolve a long-running U.S. probe into defective subprime mortgages from its...
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