It is hard to state this strongly enough. The entire mortgage backed securitization structure was based upon FRAUD. An intentional misstatement of a material fact known to be untrue and which the receiving party reasonably relies to his detriment is fraud. BOTH ends of this deal required fraud for completion. The investors had to believe [...]
Filed under: CASES, CDO, CORRUPTION, Eviction, evidence, expert witness, foreclosure, foreclosure mill, foreign relations, GTC | Honor, HERS, investment banking, MODIFICATION, Mortgage, securities fraud, Servicer, trustee | Tagged: accountants, appraisals, fraud, lending fraud, Ponzi, predatory lending, ratings, risk, securities fraud, value | 20 Comments »
