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VeryMeanReversion

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http://www.simplelegaldocs.com/feds-charge-1200-people-in-mortgage-fraud-crackdown

"Seeking to show victories against the kind of ground-level fraud that contributed to the housing crash, federal authorities said Thursday that they had filed criminal charges in recent months against 1,200 mortgage brokers and others accused of cheating banks and borrowers of $2.3 billion. "

“We know that mortgage fraud ruins lives, destroys families and devastates whole communities, so attacking the problem from every possible angle is vital,” Atty. Gen. Eric Holder said in Washington. “These schemes are despicable, they are dangerous to our economy, and they will not be tolerated.”

I wonder if this change in political stance will come to the UK.

VMR.

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http://www.simplelegaldocs.com/feds-charge-1200-people-in-mortgage-fraud-crackdown

"Seeking to show victories against the kind of ground-level fraud that contributed to the housing crash, federal authorities said Thursday that they had filed criminal charges in recent months against 1,200 mortgage brokers and others accused of cheating banks and borrowers of $2.3 billion. "

“We know that mortgage fraud ruins lives, destroys families and devastates whole communities, so attacking the problem from every possible angle is vital,” Atty. Gen. Eric Holder said in Washington. “These schemes are despicable, they are dangerous to our economy, and they will not be tolerated.”

I wonder if this change in political stance will come to the UK.

VMR.

Problem is, where do you stop? How many banksters around the world are guilty of fraud? Knowing that what they are doing is misrepresenting truth and likely to cause others loss. Setting up a circular PONZI scam to generate huge bonuses that are whipped out before the scam collapses. Your high street banksters taking weeks to clear payments or transfer ISA so that they can retain YOUR money?

Corruption runs rife and it is everywhere--your phone company and their illegal 1 year contracts with penalties for changes, the power companies conspiring to fix rates......

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Posted a lot of info about bent brokers and appraiser in 2004/5 ish. It was info publicly available on the web. These brokers were being selected by the processing units of the lenders so the fraud was a matter of bank policy. It goes right to the top including the regulators, overseers, mortgage organisations and government.

One hell of a giant fraud. Doubt the legal actions will go far beyond the foot soldiers. The damage has and will continue to do so though - it has cored out and destroyed the US eocnomy.

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Seeking to show victories against the kind of ground-level fraud that contributed to the housing crash

So they're accused of contributing to the housing crash, but not the boom that preceded it?

What are the chances of this happening in the UK? You know with the toothless and soon to be reformed FSA.

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Problem is, where do you stop? How many banksters around the world are guilty of fraud? Knowing that what they are doing is misrepresenting truth and likely to cause others loss. Setting up a circular PONZI scam to generate huge bonuses that are whipped out before the scam collapses. Your high street banksters taking weeks to clear payments or transfer ISA so that they can retain YOUR money?

Corruption runs rife and it is everywhere--your phone company and their illegal 1 year contracts with penalties for changes, the power companies conspiring to fix rates......

:rolleyes: So true --- ! :rolleyes:

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http://www.simplelegaldocs.com/feds-charge-1200-people-in-mortgage-fraud-crackdown

"Seeking to show victories against the kind of ground-level fraud that contributed to the housing crash, federal authorities said Thursday that they had filed criminal charges in recent months against 1,200 mortgage brokers and others accused of cheating banks and borrowers of $2.3 billion. "

“We know that mortgage fraud ruins lives, destroys families and devastates whole communities, so attacking the problem from every possible angle is vital,” Atty. Gen. Eric Holder said in Washington. “These schemes are despicable, they are dangerous to our economy, and they will not be tolerated.”

I wonder if this change in political stance will come to the UK.

VMR.

Thanks VMR -- In the UK you get a knighthood "for services to finance" for this... :rolleyes:

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  • 152 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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