Editor’s Comment: At the heart of the entire scam called securitization was the abandonment — in fact the avoidance of repayment of the loans. The idea was to make bigger and bigger loans without due any evidence of due diligence, so that the “lender” could claim plausible deniability and more importantly, make a claim for […]

Tags: appraisal fraud, free house, GRETCHEN MORGENSON, ICP Capital, investment pools, lender, LTV, NYTimes, Payee, payment, perfected mortgage lien, REMIC, SECURED PARTY, SPV, Triaxx, underwriting fraud
Posted in bubble, Corruption, Eviction, securities fraud |