So not to rain on anyone’s parade, this scam seems only possible if nobody was minding the store. And nobody would be minding the store only if nobody owned the debt.
This is the pot calling the kettle black. The other institutions were posing as lenders when they were not. they were at all times being funded by Wall Street securities firms calling themselves “investment banks.”
If you boil it down it probably amounts to the banks getting angry because they were scammed out of the profits of their own scam.
3 thoughts on “How Would This Scam Be Possible If the Loans Were Real?”
Youre not alone ANON. 😉
Okay — so I am only one posting anymore. Hey — is what it is.
Those warehouse lines of credit. The first to shut down. Were they even ever paid by anyone at all?.
The posing “Lenders” were the front guy. No one funded anything but cash out.