Profile picture for sburke

from MSNBC about foreclosure fraud

http://redtape.msnbc.com/2008/09/post.html

This paragraph is amazing...

Felons as mortgage brokers
When the housing market began to teeter on the edge of a meltdown, state and federal agencies were unprepared to prevent an avalanche of scams. In Florida, which some have called the mortgage fraud capital of the country, a recent Miami Herald investigation found that 10,000 convicted felons had been granted mortgage broker licenses from 2001-2007. More than 4,000 were approved even though they had committed crimes that the Office of Financial Regulation was specifically instructed to screen out, including white collar fraud, the newspaper reported.
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September 22 2008 - US
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Profile picture for 2 Big 2 Fail

That's nothing.  There are strippers working as realtors.

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September 22 2008
Profile picture for Mikal1

Stripping isn't a crime.  I don't think.

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September 22 2008

LOL

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September 22 2008
Profile picture for la457

I bet the strippers do well.  As long as they work at selling real estate.

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September 24 2008
Profile picture for Jimmy38

That's funny and I think you guys are right! When I sold my South Florida Home last Feb, there were some woman who probably could be strippers that showed my home. I even remember one of the appraisers who came in, she looked like she could pass for one too. Maybe that's just coincidence since most South Florida younger woman dress for success!

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September 24 2008
Profile picture for sunnyview
Shoot. It's a little late to complain that brokers were felons now. The real problem is the complete lack of underwriting oversight at the lender level not the felons behind the desk selling the loan.

It's just a shell game. If they want to find fraud, just review the banks loan standards and appraisal process both are on paper so the story can't change.
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September 24 2008

[content removed by moderator for being inappropriate]

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September 24 2008
Profile picture for klarek the realist

"That's nothing.  There are strippers working as realtors."

 

And the problem with that is what?

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September 24 2008
 
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