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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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No-Money-Down Caused The Housing Bubble

Business & Finance : Business Insider: Money Game (5 years ago)

Over the weekend, we had a chance to read a good amount of An American Epidemic: Mortgage Fraud -- A Serious Business. It was written in 2005, so it's delightfully free of any ex-post crash reasoning. The author, Michael Richardson,... Read Post

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

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