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FBI Investigating Subprime Deals

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Mike Kennedy

Elite Member
Joined
Sep 28, 2003
Professional Status
Certified Residential Appraiser
State
New York
The bureau has 1,210 pending mortgage-fraud cases, officials said.


Tip of the Melted Iceberg.
 

Karl

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Joined
Jan 15, 2002
Professional Status
Licensed Appraiser
State
Arizona
& yet there are many on here that have no intention of offering any help. But yet they have no problem saying, GO PAM!!!
 

Terrel L. Shields

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Professional Status
Certified General Appraiser
State
Arkansas
This relates to mortgage fraud but higher up the food chain if I understand correctly. Insider trading of securitized packages, etc.
 

murray stroupe

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Joined
Apr 27, 2005
Professional Status
General Public
State
Tennessee
FBI probing higher up the food chain

This relates to mortgage fraud but higher up the food chain if I understand correctly. Insider trading of securitized packages, etc.
===================
Exactly;
& FBI mentioned ''lenders & housing developers'',3 prong probe.
 

hastalavista

Elite Member
Joined
May 16, 2005
Professional Status
Certified General Appraiser
State
California
This is from the WSJ web-subscription; I don't know if it will access or not.

http://online.wsj.com/article/SB120163969101526197.html?mod=hps_us_whats_news

No names or details (yet). But, if one looks at Cuomo's press-release strategy and assumes the FBI is doing something similar, this may be a heads-up for something bigger to be announced soon.

(there's a shorter blurb on Implode-O-Meter)
 

Terrel L. Shields

Elite Member
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Professional Status
Certified General Appraiser
State
Arkansas
Appears to involve insider trading of mortgage backed securities, dumping them before they collapsed in value.
 

George Hatch

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Joined
Jan 15, 2002
Professional Status
Certified General Appraiser
State
California
All anyone had to do to become an "insider" would have been to take a good look at the loans in some of those bundles.
 
Joined
Aug 16, 2007
Professional Status
Licensed Appraiser
State
Virginia
I am curious about the accounting fraud. Anyone have any ideas. This does not suprise me but I am wondering exactly what this accounting malfeasance would entail.
 
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