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The 2010 fake housing loan in India was uncovered by the Central Bureau of Investigation (CBI) in India. CBI arrested eight top-ranking officials of public sector banks and financial institutions, including the LIC Housing Finance CEO Ramchandran Nair, in connection with the scam.
The Consumer Financial Protection Bureau (CFPB), together with attorneys general and state banking regulators in 49 states, and the District of Columbia obtained a Consent Judgment requiring Ocwen Financial Corporation—who at the time, was the largest nonbank mortgage loan servicer in the country—and its subsidiary, Ocwen Loan Servicing, to ...
[103] [104] The chairman of the Mortgage Bankers Association claimed that mortgage brokers, while profiting from the home loan boom, did not do enough to examine whether borrowers could repay. [105] Mortgage fraud by lenders and borrowers increased enormously. [106] A mortgage brokerage in the US advertising subprime mortgages in July 2008
Was the financial crisis caused by "systemic failure" or mortgage fraud? Or a combination of the two? And why are so many American homeowners still paying the price? When Travis Paules worked as a ...
Interestingly, Housing Wire, a trade magazine, has just published a revealing view from the inside titled Foreclosure Mess Exposes the Rot from Within, in which the author -- the publisher of the ...
Normally, the phrase "mortgage fraud" evokes images of borrowers lying on their loan applications or, more recently, foreclosure rescue scams. You don't often hear about the bank perpetrating the ...
1968: As part of the Housing and Urban Development Act of 1968, the Government mortgage-related agency, Federal National Mortgage Association (Fannie Mae) is converted from a federal government entity to a stand-alone government sponsored enterprise (GSE) which purchases and securitizes mortgages to facilitate liquidity in the primary mortgage market.
November 17, 2010 at 8:30 AM Mortgage fraud lawsuit Texas Attorney General Greg Abbott filed suit against Enhance Mortgage Corporation and Templeton Mortgage Company this week.