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City Poised For Mortgage Scam Crackdown

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http://www.ft.com/cms/s/0/ce299eee-fac4-11...0077b07658.html

"City police are preparing a big increase in mortgage fraud probes under a plan that highlights alarm about the impact of the problem on business and residential property markets.

Oliver Shaw, detective superintendent in the City police economic crime unit, said 50 new investigators due to arrive next month – increasing the force’s anti-fraud strength by a third – might initially focus solely on mortgage scams."

What about liar loans ? If they are going to do the job right take on a load more investigators and look at all 100%+ mortgages granted in the last 5 years to see if peoples income is actually what they say it is

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LOL, pressure from the FSA. Those bellends wouldn't even act when fraud was rampant and being exposed on prime time TV years ago.

The biggest fraud going round was lenders turning a blind eye to lending standards.

Anybody want a 1 hour mortgage, hardly any questions asked and most likely no checks?

Why didn't they care? They were playing with other people's money and burying the future losses in mortgage backed securities.

The mortgage backed securities market is dead dead dead and only a total idiot would plough money into buying the contents of the lender garbage cans from now on. That is why the banks have cleaned off their begging bowls and are howling for taxpayer money via the BOE.

Edited by OnlyMe

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The mortgage backed securities market is dead dead dead and only a total idiot would plough money into buying the contents of the lender garbage cans from now on. That is why the banks have cleaned off their begging bowls and are howling for taxpayer money via the BOE.

Sadly the people that ran and orchestrated the MBS ponzi scheme are still in good jobs. I hope at least one or two are rounded up and tried, rather than the Police picking the soft option of the dodgy mortgage broker or two who are much further down the food chain.

There was a recent picture of Applegarth in the papers recently. He's grown a beard!

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There was a recent picture of Applegarth in the papers recently. He's grown a beard!

Is he on the run ? The FSA will now want to speak to him about Rocks dodgy lending practices

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  • 293 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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