Countrywide Emails Predicted Early Mortgage Collapse. Borrowers Set Up for Foreclosure.

A reader and tipster (send in your tips here) has forwarded me a document which is alleged to be the emails and documents of Countrywide regarding the mortgage loans they were initiating. There are a number of foretelling and interesting statements contained in this document. One point in particular, after the pay option sub-prime loans … Read more

Senators Angry About Freddie Mac Betting Against Homeowners

by Jesse Eisinger ProPublica Sen. Robert Menendez, D-N.J., had sharp words for Freddie Mac’s investment practices and conflicts of interest at a Senate Banking Committee hearing Thursday. The senator’s concerns came in the wake of a ProPublica and NPR report that Freddie, the giant taxpayer-owned mortgage company, had made concentrated investments in complex mortgage securities … Read more

Six Required To Pay Millions From “U.S. Homeowners Relief” Scheme

The Federal Trade Commission (FTC) announced they are requiring “U.S. Homeowners Relief” defendants to pay millions in their settlement along with banning them from the debt and mortgage relief business. The FTC had charged six defendants (that have agreed to settle) in the participation of a fraudulent mortgage modifications and foreclosure relief scheme. The settlement … Read more