Leon Stewart
Member
- Joined
- Jan 15, 2002
Joe:
There's possibly more consistent fraud in the mortgage Business than any other similar activity. That has always been the case, and it always will be the case. I've been involved in this business since the mid 60's, and there has always been various forms of fraud in this business.
All they ever do is punish one or two low level participants from time to time, but they never change the structure of the business, which would eliminate the "Loopholes", and significantly reduce the likehood of these acts from occuring in the future.
As I said before, these meaningful changes will not take place because the people who make the Rules are the ones who get the benefits, and as long as they can continue to direct the blame for these frequently occuring problems elsewhere, it will be business as usual.
Leon
There's possibly more consistent fraud in the mortgage Business than any other similar activity. That has always been the case, and it always will be the case. I've been involved in this business since the mid 60's, and there has always been various forms of fraud in this business.
All they ever do is punish one or two low level participants from time to time, but they never change the structure of the business, which would eliminate the "Loopholes", and significantly reduce the likehood of these acts from occuring in the future.
As I said before, these meaningful changes will not take place because the people who make the Rules are the ones who get the benefits, and as long as they can continue to direct the blame for these frequently occuring problems elsewhere, it will be business as usual.
Leon