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The bank officials sanctioned large-scale corporate loans to realty developers, overriding mandatory conditions for such approvals along with other irregularities. [1] The Central Bureau of investigation arrested number of high official from the several financial institutes in India in connection with the housing scam in 24 November 2010.
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 ...
A multimillion-dollar scam by real estate agents and loan officers, in collusion with homebuyers, left mortgage lenders in the dust, authorities say. Two real estate agents and two mortgage loan ...
Inquiries and complaints about so-called forensic loan audits, aimed at getting mortgage modifications, are soaring -- leading consumer groups to warn that many of them are scams. Consumers need ...
This list may not reflect recent changes. 0–9. 2010 housing loan scam in India; 2013 Kerala solar panel scam; 2015 cash-for-votes scam; 2019 Karnataka political crisis;
But reports of mortgage fraud in the third quarter of 2009 (the most recent set of figures) show a hefty 7.5 percent Homeowner Beware: Mortgage Scams on the Rise Skip to main content
Subprime mortgage lending jumped dramatically during the 2004–2006 period preceding the crisis. [9]The immediate cause of the crisis was the bursting of the United States housing bubble which peaked in approximately 2006.
The worst economic crisis since the Great Depression has provided happy hunting grounds for legions of unscrupulous scammers looking to take advantage of financially strapped consumers. Thanks to ...