The problem with qui tam in connection with mortgages and foreclosures is that they have not yet worked except in rare instances. The biggest hurdle seems to be that the agency that supposedly got defrauded (e.g. FDIC) by false claims steps forward and says it was OK. You can’t force them to admit that they […]

Tags: qui tam, qui tam complaint, securitization, securitization of debt, securitization of mortgages
Posted in Uncategorized |

Just in case you were wondering if anything is changing in the world of finance, the answer is no, not really. Ocwen here is announcing that they are securitizing mortgages backed by the government, and selling the pieces to investors, who really ought to know better by now. They are doubling down on a failed […]

Tags: government backed, housing market, Ocwen, securitization of mortgages, Wall Street
Posted in bubble, Corruption, Eviction |