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Mortgage securities deal with U.S. regulator

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Mortgage Professional America | 18 Sep 2015, 06:30 AM Agree 0
Another banking institution caught up in the mortgage meltdown will shell out nearly $130 million in order to end claims it systematically ignored underwriting guidelines
  • sbharkness | | 18 Sep 2015, 08:44 PM Agree 0
    This is just a slap on the wrist for an institution their size. Ho-hum, just the cost of doing business. No worries for these Mega banks. They just take a one time write off and go one about things as if nothing had happened. Seriously, has anyone in charge been punished with jail time or any personnel fines? The answer is a resounding "NO" but if a Loan Officer makes a mistake with his or her marketing. It is a $10,000 personnel fine and a year in jail. The people that almost brought down the world economic system have not done one day in jail. In fact, NO INDIVIDUAL has even admitted to wrongdoing. These headlines are supposed to make the public think justice has been served but far from it. The hundreds of thousands of lives that were destroyed so the uber wealthy individuals could become even wealthier is sickenly wrong.
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