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U.S. identifying people to prosecute for roles in mortgage crisis

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Mortgage Professional America | 18 Feb 2015, 08:37 AM Agree 0
Will it actually work? Eric Holder has set a deadline for U.S. attorneys to identify individuals to prosecute for their roles in the financial crisis.
  • Dominick F. Sammarone | | 18 Feb 2015, 12:33 PM Agree 0

    Eight friggin years later? Lol
    Follow the money.

    It starts on Wall Street where the mortgages were securitized.

    Don't firget your friends in the ratings company. Can't sell raw sewage without the "AAA" approval rating.

    Then comes your friends at the banks. You can look to the TARP list for that fuest list.

    Then you can do the small potato list. Small mtg bankers, title companies, closing attorneys, mtg brokers, appraisers and Realtors.

    I hope I didn't leave anyone out..
  • have | | 18 Feb 2015, 03:02 PM Agree 0
    They can start with the UNDERWRITERS at each lending institution. The UNDERWRITERS, no one else, not the customer service people, the processors, the appraisers, the termite inspectors have the last word in every mortgage package approved for the mortgage. The UNDERWRITER has the executive authority to review, inspect and scrutinize every page of mortgage documents prior to he or she signing the final approval of each mortgage package. That is where the responsibility should be placed.
  • Esperanza Creeger | | 19 Feb 2015, 09:55 AM Agree 0
    @have: The UNDERWRITERS are to blame? Really?!? Are you not aware mortgage mortgage underwriters underwrite mortgage files according to investor guidelines provided - to the letter?? Do not scapegoat mortgage mortgage underwriters for performing their due diligence according to program guidelines created by the progenitors of this financial lemon.
  • griff | | 20 Feb 2015, 01:27 PM Agree 0
    Laughable. Take a drive on wall street and a side trip to fannie. You got your man! Then when you are done roll back the stupid rules that are in place costing consumers tons more to do anything.
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