Sub Prime Mortgage Scandal

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Subprime mortgage loans: We’re investigating 14 corporations involved in subprime lending as part of our subprime mortgage industry fraud Initiative launched last year. The companies come from across the financial services industry, from mortgage lenders to investment banks that bundle loans into securities sold to investors.

Many subprime mortgages had a low initial interest rate for the first two or three years and those who defaulted were ‘swapped’ regularly at first, but finally, a bigger share of borrowers began to default in staggering numbers.

 · The SEC filed a civil fraud lawsuit Friday against six former top executives at Fannie Mae and Freddie Mac, saying they misled investors about the subprime-loan risks they faced.

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The complaint alleged that the bank engaged in “fraud, violations of bankruptcy rules and. pay more than $2 billion for allegedly lying about the quality of subprime and Alt-A mortgages that backed.

WASHINGTON (Reuters) – The U.S. Justice Department on Monday charged Deutsche Bank’s (DBKGn.DE) former head of subprime mortgage trading with civil fraud in connection with conduct dating back to the.

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The Truth About the SubPrime Mortgage Scandal It’s one of the most amazing displays of journalistic incompetence and malpractice in recent memory. The US news media failed to draw the obvious connection between the bizarre federal law enforcement investigation and leak campaign about.

Goldman Sachs charged with subprime mortgage fraud. in college admissions scandal while. its clients helped create – and then bet against – subprime mortgage securities that Goldman sold.

Ameriquest was one of the largest United States sub-prime mortgage lenders until its dissolution in September 2007. Among the first mortgage companies employing computers to solicit prospective borrowers and hasten the loan application process, Ameriquest was accused of predatory lending practices by United States banking regulators. [citation needed] The company was notable for its.