For Lawyers: Sophisticated Study on "Liar's Loans

Makes for very good reading. Shows that the advent of low-doc and non-doc loans were, as epected, sure to result in higher delinquencies. As we have pointed out before here, that was the point — to get loans that were sure to go into default. That was the only way they collect the “insurance” (credit default swaps).

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Tags: borrower, disclosure, foreclosure defense, foreclosure offense, fraud, Lender Liability, mortgage meltdown, predatory lending, rescission, securitization, TILA audit
Posted in bubble, Corruption, Eviction, securities fraud |