Fannie 2008 Fraud Report

[Mike Kennedy]

Fannie Jan. 2008 Fraud Update Pdf


"4% VALUE MISREPRESENTATIONS" LOANS 2006-2007

PLUS TOP TEN CITIES

 

[Elliott]

So appraisers are responsible for 4% of the whole pie. Lots of other
fraud goin on out there. It appears with the help of their
lender they lie about liabilities, SSN, Credit, Occupation, Income,
their Assets, and Property (whatever that means).

Raines, et al (Fannie Execs), don't have the cleanest shirts either,
but of course they get to agree to the penalty with out accepting
or denying the charge.

 

[Michael Tipton]

Also include 10% for property-misrepresenting material facts of the subject and/or comps. My market is on both "top 10" lists.