All Posts Tagged With: "FBI"
FBI Expanding Fight Against Mortgage Scams
The FBI is adding a large number of agents to fight mortgage fraud and predatory lending, but will it be enough? Speaking before the Senate Judiciary Committee last year, FBI Assistant Director Kevin L. Perkins noted that the FBI now has new funding to chase mortgage fraudsters under the Financial Intelligence Center (FIC). The FIC, [...]
1Jun2010 | Peter G. Miller | 0 comments | Continued
Federal Rules Make Predatory Loans Legal & Lawful
With all the yelling and screaming in Washington regarding financial reform the fact remains that predatory lending remains perfectly legal and will be perfectly legal once a financial reform package is passed. “The Wall Street reform bill in Congress represents the strongest consumer financial protections in history,” says President Obama. “You’ll be empowered with the [...]
19May2010 | Peter G. Miller | 0 comments | Continued
No Predatory Lending In 2008?
The FBI is out with its latest annual mortgage fraud tally and the news is fairly grim: Despite a reduction in loan originations, fraud filings from financial institutions increased 36 percent to 63,713 in fiscal 2008 compared to 46,717 filings a year earlier. This is an unhappy statistic, but it does not tell the whole [...]
8Jul2009 | Peter G. Miller | 0 comments | Continued
Buy-Backs: Keeping Lenders On The Hook
Did you ever wonder what happens to lenders when mortgages fail, when someone gets foreclosed? Lenders know, and for them there are lots of sleepless nights. “When loans go bad borrowers can be foreclosed. Meanwhile, investors such as pension funds, insurance companies and others who own loans can lose money,– say James J. Saccacio, Chairman [...]
26Aug2008 | Peter G. Miller | 0 comments | Continued
© Copyright 