Tuesday, May 24, 2011

The Mortgage-Lenders' Kitchens Get Hotter


Last week, we heard the announcements by New York Attorney General Eric Schneiderman that his office is investigating fraud in mortgage securitization — originally focused on Goldman Sachs, Bank of America, and Morgan Stanley, this morning expanded to include JPMorgan, UBS, and Deutsche Bank.

Previously, the Florida AG had published a brutal analysis on Florida foreclosure fraud.

We now learn that California is stepping up to the plate: California Attorney General Kamala Harris is creating a 25-person task force to target mortgage fraud of any size.

The California investigation will include "mortgage-origination" fraud.

HT: Ritholtz

1 comment:

Tim Morrissey said...

Keep track of your posts about this. A couple years from now, you'll be considered prescient for mentioning this REM stuff.