We saw the lawsuit filed against Rocket over a kickback scheme that was declared to be politically motivated and was dismissed by the Trump DOJ last month. But Glenn must have wanted a piece of that, and two weeks later, he jumps in bed with them: Of course, he gets...
According to this Ripoff Report, it looks like they were promising to set up the victims with new corporations, and get them credit in the corporate name too, for just an extra $20,000 - $30,000: Jacob Orona, Aide Orona, John Contreras, Prakashumar (“Kash”) Bhakta,...
The U.S. Court of Appeals threw out the $1.3 billion judgement against BofA - here is the story behind it: http://www.latimes.com/business/hiltzik/la-fi-hiltzik-bofa-mortgage-billions-20160524-snap-story.html If I'm ever dragged into court for a financial fraud, I...
Those who were wrongly foreclosed won't get their house back, but the courts might make the banks throw around some more free money. http://www.latimes.com/business/la-fi-foreclosure-ruling-20160302-story.html Excerpts: During the bust that followed last decade's...
Hat tip to daytrip for sending in this story: http://www.bloomberg.com/news/articles/2015-10-02/mortgage-executive-who-took-rap-for-crisis-prepares-her-appeal Rebecca Mairone scarcely deserves a mention in the annals of finance, except for this: She’s the only...
Every American should read this article that exposes the cozy relationship between big banks and government - thanks daytrip for sending! http://www.rollingstone.com/politics/news/the-9-billion-witness-20141106 An excerpt: One mortgage in particular that sticks out in...
Here's a fascinating story about the prosecution of people who defaulted on liar loans they obtained in 2006. The U.S. Attorney accused of them of mortgage fraud, and the defense attorneys - some appointed by the state - made the case that banking executives intended...
The Wolf of Ramona! From Channel 6: SAN DIEGO - A Ramona real estate agent who admitted taking part in an investment and mortgage fraud scheme that generated tens of millions of dollars in phony loans and illegal kickbacks was sentenced Friday to serve 15 months in...
Even after paying a $67 million settlement to the SEC and being banned from the mortgage industry Angelo Mozilo, founder and former president of Countrywide Financial Corp still says his company never made a loan "that we knew the borrower could not pay." Mozilo...
From MND: The House Oversight and Government Reform Committee issued a report today on Countrywide Mortgage and its so-called VIP loan program which the committee said was "a tool used by Countrywide to build goodwill with lawmakers and other individuals positioned to...
