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Conviction: Fraud for Housing

I'd like to start this post with something Tanta wrote in early 2007: Unwinding the Fraud for Bubbles There is a tradition in the mortgage business of distinguishing between two major types of mortgage fraud, called “Fraud for Housing” and “Fraud for Profit.” The former is the borrower-initiated fraud—inflating income or assets, lying about employment, etc.—that is motivated by the borrower’s desire to get housing (not the same thing as “real estate”), by means of getting a loan he or she doesn’t actually qualify for.
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The FBI Presents: Everything You Wanted To Know About Mortgage Fraud But Were Afraid To Ask

Business & Finance : Business Insider: Money Game (4 years ago)

Besides crushing owner's equity and hitting home prices nationwide, the housing bubble saw an unbelievable amount of mortgage related crime than ever seen before. The FBI has been warning of a mortgage fraud uptick since 2004, and h... Read Post

The Biggest Bubble In History: Fraud

Business & Finance : Zero Hedge (2 years ago)

Bursting Gas Bubble 60 Light Years Across. Courtesy of ESA The housing bubble which burst in 2007 or so was the biggest bubble of all time. Many argue that the bubble in U.S. bonds has surpassed the housing bubble as the largest eve... Read Post

The Fracturing Energy Bubble Is the New Housing Crash

Business & Finance : Zero Hedge (2 days ago)

Submitted by David Stockman via Contra Corner blog, Let’s see. Between July 2007 and January 2009, the median US residential housing price plunged from $230k to $165k or by 30%. That must have been some kind of super “tax cut”. In f... Read Post


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