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Lawmakers lash out over FBI's lax mortgage response

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Mortgage Professional America | 18 Mar 2014, 06:03 AM Agree 0
Lawmakers are demanding to meet with the U.S. attorney general in the wake of a damning Justice Department report on the FBI’s lax response to mortgage fraud
  • Griff | | 18 Mar 2014, 12:26 PM Agree 0
    Haven't we already anguished enough about what agencies failed us during the height of the housing crisis. The new enforcer is the cfpb. Spend time making sure they enforce and leave the what ifs behind. Or simply spend time on something that will matter to most Americans from this day forward. Hint.. it won't be trying to figure out why the FBI did not chase mortgage fraud way back when.
  • Cheryl M | | 18 Mar 2014, 12:45 PM Agree 0
    Here we are Once again, when was it that the FBI started answering to Warren and CUmmings? Unfortunately these mortgage fraud cases (if we haven't seen enough last a very long time) the law gives is up to 5 years for a case. Being that these cases are so large and involve so many people, banks, cross state lines, involve elected officials, etc. it could take some time. We read today about cases from 2007 and earlier at MPA. It's going to take sometime to get to 2014. Correct me if I'm wrong but when did the FBI start commenting on open, ongoing FBI cases to members of congress?
  • Pat A | | 18 Mar 2014, 01:10 PM Agree 0
    I feel so much better that Warren is focusing on mortgage fraud. I would hate for the FBI to be investigating real violent crime and homeland security - keep our mortgage safe - thanks Elizabeth.
  • Deb F | | 18 Mar 2014, 01:12 PM Agree 0
    When will we learn our lesson regarding accountability?? We now have to worry about investigative policy and moneys funded to hold other's accountable? Where's their accountablility. Amazing! No accountability anywhere....
  • Neil J | | 18 Mar 2014, 01:58 PM Agree 0
    Lets talk about accountability and accepting responsibility for how a business operates and creates wealth. If someone allows their company to cross the line and operate fraudulently, they need to go to prison like the rest of us would... I think our parents called that setting an example...
  • seriously | | 18 Mar 2014, 02:16 PM Agree 0
    Cummings, Waters, and Warren? That's quite a group. Isn't Waters and her husband being accused or investigated for insider trading or something like that? She was also named one of the "Most Corrupt Members Of Congress" This has no legs
  • Wm Matz | | 18 Mar 2014, 03:20 PM Agree 0
    The Big Banks/Wall St have the attitude that the laws don't apply to them. There are millions of examples of forged, fabricated, and perjured documents that are being used to take homes from homeowners. Recently, public articles described a "factory" of one of the Big Banks, whose sole purpose is to manufacture documents missing from mortgage files going to foreclosure.

    When queried about the lack of prosecution of major mortgage crimes, the AG of the US basically said that he was afraid to prosecute because it might destroy the US financial system. [I.e., if your fraud is big enough, you can get away with it.] So why should the FBI investigate if it knows the AG will not prosecute?
  • Greg | | 18 Mar 2014, 03:49 PM Agree 0
    When I saw the headline, I was hopeful that the FBI was being pressured to prosecute borrowers who had perpetrated fraud against federally regulated mortgage lenders. Silly me.
  • Francine | | 18 Mar 2014, 04:16 PM Agree 0
    They should start their witchhunt with all the FRIENDS OF ANGELO. Remember him? Angelo Mozilo aka Founder & Chief Thief of Countrywide. Gave all his "Sweethearts" in Congress no-doc, low-rate questionable mortgages so they'd vote in legislation he needed to continue his crimes - then to fade off into the sunset unscathed and very, very wealthy. Talk about the pot calling the kettle black? Our esteemed congress is steeped in the sludge of corruption - the mortgage industry not withstanding.
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