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Reply #4: For the past month the NY Times has somehow morphed the mortgage fraud issue [View All]

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gristy Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-01-10 06:22 AM
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4. For the past month the NY Times has somehow morphed the mortgage fraud issue
Edited on Mon Nov-01-10 06:43 AM by gristy
into a foreclosure paperwork fraud issue. Here's the third paragraph of this article:

The complaint could have come from any of the autograph marathoners in the recent mortgage foreclosure mess. But Mr. Gazzarato was speaking at a deposition in a 2007 lawsuit against Asset Acceptance, a company that buys consumer debts and then tries to collect.


Here's how this paragraph could have and should have been written, but was not:

The complaint could have come from any of the autograph marathoners in the predatory-lender mortgage fraud. But Mr. Gazzarato was speaking at a deposition in a 2007 lawsuit against Asset Acceptance, a company that buys consumer debts and then tries to collect.


Genious, pure genious. Huffington post had this to say on 10/25:

If the banks were "overwhelmed" then they were overwhelmed selectively. They certainly had no trouble staffing mortgage subsidiaries and selling as many toxic loans as possible. No staff shortage then, no worries about old computers or untrained staff. Indeed, according to the just-released book, The Monster: How a Gang of Predatory Lenders and Wall Street Bankers Fleeced America--and Spawned a Global Crisis by Michael W. Hudson, a former reporter with the Wall Street Journal, in case after case lenders wanted to hire the least-experienced mortgage loan officers they could find, people who would be entirely unfamiliar with any notion of lending norms.


http://www.huffingtonpost.com/peter-g-miller/foreclosur...
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