EDITOR’S NOTE: The shell game continues. While the media picks up stories about “settlements” giving rise to the presumption that Countrywide Home Loans and Bank of America and the rest of the securitization players committed various violations of statutes, duties, rules and regulations, the main point gets lost. Where is this money going and WHY? […]

Tags: ALAN ZIBEL, AP, Bank of America, countrywide, Joel Bernstein, KPMG, New York pension funds
Posted in bubble, Corruption, evidence, expert witness, foreclosure mill, Modification, Servicer |

The New York Times just published an article today summarizing a detailed 580 page report showing that KPMG, the auditor for Century Financial (now defunct) expressly approved a change in accounting method that allowed the company to show a profit when under normal accounting rules the company would have shown a loss. Implicitly this shows […]

Tags: Auditor liability, borrower, Century Financial, foreclosure defense, fraud, KPMG, Lender Liability
Posted in bubble, Corruption, Eviction |