These are excellent resources for understanding (and explaining to others) how mortgage fraud works. See, in particular the diagrams in the appendices in report #2.
One of the reasons I’ve added a couple of posts on Piggington’s on this topic is that there seems to be a perception on this forum that the people that should be paying attention are asleep at the wheel concerning mortgage fraud as well as the repurcussions that the massive fraud will have on the economy (with all of us paying the price).
While I do believe that there definitely is a breakdown at the level of the mortage lenders, I also think that some of the various regulatory agencies are aware of the mortgage fraud and the fact that it has grown exponentially during the bubble years.
BTW, I have been a lurker for quite awhile on this forum, really love it and have learned a lot. I thank all of you (and Ben Jones blog, and Patrick.net) for the education! I’m a recent first-time home buyer (July 2005 – top o’ the bubble) in Arlington, Texas.
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