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.
The blogger Tanta, an influential voice on the mortgage collapse, died Sunday morning in Columbus, Ohio, The New York Times’s David Streitfeld reported. Tanta, who wrote for Calculated Risk, a finance and economics blog, was a pseud... Read Post
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