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Mortgage Fraud

Ben Hallman

Law Enforcement Raids Law Firm Accused Of Scamming Desperate Homeowners

HuffingtonPost.com | Ben Hallman | Posted 07.18.2014 | Business

It was a gut-level appeal to desperate people locked in a mortgage dispute with their bank. For thousands of dollars upfront, plus an additional m...

Ben Hallman

Lawyers Are Now The Driving Force Behind Mortgage Scams

HuffingtonPost.com | Ben Hallman | Posted 06.13.2014 | Business

From the very first day she was allowed to speak with clients at her new law firm job, Michele Stephens wondered if she was doing something unethical....

When the Government Compounds Crimes Rather Than Fights Them: Mortgage Fraud

Danny Schechter | Posted 05.14.2014 | Politics
Danny Schechter

We were all victims of the financial crisis that began in 2007 (not 2008), but some of us suffered more than others. And, hundreds of millions of us are still living with the painful aftermath as its consequences began to be felt worldwide.

FBI Ranked Mortgage Fraud As Lowest Criminal Threat After Crisis

Reuters | Posted 05.13.2014 | Business

By Aruna Viswanatha WASHINGTON, March 13 (Reuters) - The FBI ranked mortgage fraud as its lowest criminal threat after...

FBI Hunting For Mortgage Fraud Kingpin Who Owes $95 Million

The Huffington Post | Ashley Woods | Posted 12.23.2013 | Business

A 46-year-old man who was convicted after running a massive mortgage fraud operation never showed up to serve his prison sentence -- and the FBI is no...

The Administration's Sometime War on Press Leaks

Jim Treacy | Posted 01.27.2014 | Business
Jim Treacy

As someone who monitors the news, and has on occasion been the news, I have been struck by the Department of Justice's (DOJ) recent heavy-handed appro...

BofA Facing Huge Mortgage Fraud Fine

Reuters | Posted 01.23.2014 | Business

By Nate Raymond and Jonathan Stempel NEW YORK, Nov 9 (Reuters) - The U.S. government urged that Bank of America Corp p...

Setting the Record Straight: BofA's Rebecca Mairone Found Liable for Fraud

L. Randall Wray | Posted 01.23.2014 | Business
L. Randall Wray

Bank of America specialized in making mortgages with terms that the loan officers and executives like Mairone knew the borrowers could not possibly service. Fraud was the business model. Foreclosure was the expected result.

BofA Lawyer Calls Fraud Case 'Easter Egg Hunt'

Reuters | Posted 01.23.2014 | Business

By Nate Raymond NEW YORK, Oct 22 (Reuters) - The U.S. government has failed to produce any evidence to show that Bank of America Corp'...

Obama's FBI Channels the Tea Party: Partners With the Banks and Blames the Poor for the Crisis

William K. Black | Posted 10.19.2013 | Business
William K. Black

The Mortgage Bankers Association has conned the FBI in 2007, and the FBI has remained conned. The result is that the FBI operates under a faux definition of "mortgage fraud" in which it is conceptually impossible for the banks and their controlling officers to be criminals.

The Incredible Con the Banksters Pulled on the FBI

William K. Black | Posted 10.16.2013 | Business
William K. Black

Given the fact that the CEOs of large fraudulent lenders are criminally liable for tens or even hundreds of thousands of acts of mortgage fraud, we should be seeing our prisons overrun with elite white-collar criminals.

Fannie Mae Hires an Officer It Alleges Defrauded It -- and Finance Cheers

William K. Black | Posted 10.15.2013 | Business
William K. Black

Three Bloomberg reporters have done the nation a service by ferreting out a scandal of moderate magnitude but emblematic importance.

The FBI's 2010 Mortgage Fraud Report Reveals Why the Banksters Love Holder

William K. Black | Posted 10.14.2013 | Business
William K. Black

This is the first in a series of columns that use the FBI's 2010 Mortgage Fraud Report to make intelligent inferences about why the prosecutors have ceased prosecuting control frauds directed by senior financial leaders.

Economic Weapons of Mass Destruction: Mortgages in the Era of Mass Terror

Laura Gottesdiener | Posted 07.07.2013 | Business
Laura Gottesdiener

Since 2007, Wall Street has evicted four million families -- approximately ten million people -- from their homes. Millions more are ensnared in ongoing foreclosures.

Ryan Grim

Key Democrat Criticizes Obama Administration For Lacking 'Political Will'

HuffingtonPost.com | Ryan Grim | Posted 04.24.2013 | Politics

WASHINGTON -- New York Attorney General Eric Schneiderman has privately criticized the Obama administration and the Department of Justice for not aggr...

Eleazar David Melendez

Federal Regulator Issues Tiny Fine For Financial Companies Engaged In Massive Fraud

HuffingtonPost.com | Eleazar David Melendez | Posted 04.04.2013 | Business

For more than a decade, four mortgage insurance companies paid illegal kickbacks to banks as part of a scheme that greatly inflated insurance costs fo...

'Pervasive' Fraud by Our 'Most Reputable' Banks

William K. Black | Posted 04.30.2013 | Business
William K. Black

A recent study confirmed that control fraud was endemic among our most elite financial institutions. The key conclusion of the study is that control fraud was "pervasive."

Eleazar David Melendez

Banks Could Owe HOW MUCH For Housing Boom Fraud?

HuffingtonPost.com | Eleazar David Melendez | Posted 02.26.2013 | Business

A verdict delivered earlier this month by a prominent federal judge heightens the prospect that the nation’s largest financial institutions will be ...

Eleazar David Melendez

Bankers Who Made Millions In Housing Boom Misled Investors: Study

HuffingtonPost.com | Eleazar David Melendez | Posted 02.13.2013 | Business

Bankers who made billions of dollars packaging home loans into bonds during the prime years of the housing boom provided false information to investor...

Senators Demand Answers About 'Untouchable' Wall Street Criminals

Dan Petegorsky | Posted 04.01.2013 | Business
Dan Petegorsky

For years now this has been DOJ's strategy: to rattle off the number of cases of "financial fraud" or "mortgage fraud" it has won, not a single one of which is the kind of case the public has been demanding.

Ben Hallman

Subprime Bankers Have Much To Be Thankful For

HuffingtonPost.com | Ben Hallman | Posted 11.21.2012 | Business

Even in the movie version of the financial crisis, the giant mortgage company accused by the U.S. government of rampant fraud and abuse wouldn't be so...

An Uneasy Justification for Prosecutorial Abdication in the Subprime Industry

Bradley T. Borden | Posted 01.07.2013 | Business
Bradley T. Borden

Although some reasons may appear to support prosecutorial abdication, the size and scope of damages suggest individual wrongdoing must have led to the subprime crisis and that individuals should be prosecuted.

Ben Hallman

U.S. Sues BofA Over Mortgage Fraud

HuffingtonPost.com | Ben Hallman | Posted 10.25.2012 | Business

Federal prosecutors sued Bank of America for $1 billion on Wednesday, alleging that the bank's former Countrywide unit concocted a mortgage scheme it ...

Obama Administration Tries To Look Tough On Mortgage Fraud

The Huffington Post | Mark Gongloff | Posted 10.10.2012 | Business

Thing One: Busy Work: The Obama administration would really like you to know how tough it is getting with evildoers in the housing market. Manhatta...

BofA Pays Big To Settle Mortgage Fraud Claims

Reuters | Posted 09.16.2012 | Business

By Karen Freifeld NEW YORK, July 17 (Reuters) - Bank of America Corp has agreed to pay $375 million to settle a case ...