Interesting that the FBI is now involved. Will we see people go to jail for fraud?
You guys who are for moral clarity, do you think that mortgage fraud is as bad as shoplifting, or worse? What kind of time should someone who lies on his mortgage appplication and causes 100s of thousands in looses do? What about the independent mortgage brokers who were complicit in the schemes?
I’ve heard of mortgage brokers who walked borrowers through the lying process.
I remember posting here a while ago and someone chastised me for suggesting that people would commit fraud (like lie about owner occupied instead of investment). Well said, powayseller, when this unravels, we’ll see the extent of the fraud.
