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SEC fines mortgage company, bans executives for mortgage bond fraud

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Mortgage Professional America | 01 Jun 2016, 01:23 PM Agree 0
The California-based company was hit with more than $12 million in penalties for allegedly perpetrating a scam involving mortgage-backed securities
  • Shawn | | 01 Jun 2016, 01:52 PM Agree 0
    It's too bad..........they should be in jail. Nothing that money can't buy your way out of I guess.
  • | | 01 Jun 2016, 02:18 PM Agree 0
    I agree. They should be bound by the new CFPB regulations. Penalties, jail time and removed from the mortgage business.
  • | | 01 Jun 2016, 05:27 PM Agree 0
    I wonder if they were reporting the borrower's credit report as late also, even though they paid on time. This is shocking. It seems like a lot of people were injured not just the shareholders.
  • Yesterday | | 01 Jun 2016, 09:47 PM Agree 0
    Is this all over? Where is FBI, CFPB, HUD OIG, DOJ, etc.. The rich always get away with just paying a fine. Don't think $12.7 million hurt First Mortgage's pocket book.
  • | | 02 Jun 2016, 01:46 AM Agree 0
    They are criminal and should be in jail.
  • | | 02 Jun 2016, 08:32 AM Agree 0
    So all penalties add up to a little over $1M so where is other $11M going????
  • Gup | | 02 Jun 2016, 04:13 PM Agree 0
    Greed Greed Greed!!!! That is all I say!!!
    One the Bright side, Bad Debt seems to be more Lucrative!!!...LOL... :)
  • | | 02 Jun 2016, 05:22 PM Agree 0
    Good for them, I almost joined the company.
  • Faithful Person whom you destroyed a life | | 08 Jun 2016, 01:41 PM Agree 0
    Greedy scum bags! Hurt so many people whom were faithful and worked for them for years, selfish piece of shits- they all knew what they were doing! Did not care About anyone but themselves. May they rot in hell.
  • | | 09 Jun 2016, 03:47 PM Agree 0
    They should be banned from the lending industry for life.
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