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Loan Scam Tips

If you’re struggling with your mortgage or trying to get your mortgage reduced, you can find help, free of charge, from HUD-approved counseling agencies. Visit our network directory to find one near you.  To speak with a housing counselor 24 hours a day or find a local agency, call 888-995-HOPE (4673).Loan Scam Alert PSALoan-modification scams take many […]

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Three Convicted In Manhattan Federal Court For The Fraudulent Issuance And Sale Of More Than $60 Million Of Tribal Bonds | USAO-SDNY | Department of Justice

Three Convicted In Manhattan Federal Court For The Fraudulent Issuance And Sale Of More Than $60 Million Of Tribal Bonds | USAO-SDNY | Department of Justice — Read on www.justice.gov/usao-sdny/pr/three-convicted-manhattan-federal-court-fraudulent-issuance-and-sale-more-60-million

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Housing Bubble Hall of Shame®

Who is responsible for the Housing Bubble? Policy makers, press, investors, wallstreet, mortgage lenders, builders, realtors, appraisers, buyers, flippers, sellers, … ? They all had a hand in it, but lets pay tribute to some of the more notable or public displays of bubble mania. *All inductees are innocent of a crime until proven guilty […]

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Greg Lippmann Famous 2007 Short Subprime Presentation [PDF]

May 5, 2015 at 10:47 am by Guest Post Via scmessina  Famous Greg Lippmann Deutsche Bank presentation sent to hedge funds arguing for the bet against subprime, mentioned in  The Big Short: Inside the Doomsday Machine: The flipbook the FCIC interview mentions several times:”FCIC: It strikes me that the title of the flipbook is shorting home equity mezzanine tranches and […]

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Emails Show How Greg Lippmann Built Deutsche Bank’s $5 Billion Subprime Short: “Duping CDO Fools”

Courtney Comstock Apr. 14, 2011, 10:05 AM The Senate Committee assigned to report on the causes of the financial crisis used then-trader Greg Lippmann’s emails in their 650-page report as an example of the view within Deutsche Bank that the subprime market was collapsing. The report was released today. Click here to download it. The committee is […]

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The Regrets of Lewis Ranieri – WSJ

THIS is the DEEP STATE ass who set up the #HousingCrisis for them! HE IS THE REASON! The father of mortgage-backed securities lives with remorse for his role in a crisis that ‘did so much damage to so many people.’ — Read on www.wsj.com/articles/the-regrets-of-lewis-ranieri-1536240610

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Third Point Funds to Pay $609,810 Civil Penalty and Be Subject to Injunction for Violating Antitrust Premerger Notification Requirements

Department of Justice Office of Public Affairs FOR IMMEDIATE RELEASE Wednesday, August 28, 2019 The Justice Department announced today that it will require Third Point LLC and three funds it manages (Third Point Offshore Fund Ltd., Third Point Ultra Ltd., and Third Point Partners Qualified L.P.) to pay a $609,810 civil penalty and be subject […]

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Mortgage-Backed Securities

Mortgage-backed securities (MBS) are debt obligations that represent claims to the cash flows from pools of mortgage loans, most commonly on residential property. Mortgage loans are purchased from banks, mortgage companies, and other originators and then assembled into pools by a governmental, quasi-governmental, or private entity. The entity then issues securities that represent claims on […]

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Mortgage-Backed Security (MBS)

REVIEWED BY JULIA KAGAN  Updated Jul 16, 2019 What Is a Mortgage-Backed Security (MBS)? A mortgage-backed security (MBS) is an investment similar to a bond that is made up of a bundle of home loans bought from the banks that issued them. Investors in MBS receive periodic payments similar to bond coupon payments. The MBS is a […]

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Justice Department Sues to Block Sabre’s Acquisition of Farelogix

Department of Justice Office of Public Affairs FOR IMMEDIATE RELEASE Tuesday, August 20, 2019 Acquisition Would Eliminate Disruptive Competitor, Leading to Higher Prices as Well As Reduced Quality and Innovation in Airline Booking Services The Department of Justice filed a civil antitrust lawsuit today seeking to block Sabre Corporation’s $360 million acquisition of Farelogix, Inc. […]

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General Electric Agrees to Pay $1.5 Billion Penalty for Alleged Misrepresentations Concerning Subprime Loans Included in Residential Mortgage-Backed Securities

Department of Justice Office of Public Affairs FOR IMMEDIATE RELEASE Friday, April 12, 2019 The Department of Justice today announced that General Electric (GE) will pay a civil penalty of $1.5 billion under the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA) to resolve claims involving subprime residential mortgage loans originated by WMC […]

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Former Precious Metals Trader Pleads Guilty to Attempted Commodities Price Manipulation

Department of Justice Office of Public Affairs FOR IMMEDIATE RELEASE Thursday, July 25, 2019 A former precious metals trader at the New York offices of a U.S. bank and a Canadian bank pleaded guilty today to attempted price manipulation of precious metals futures contracts, announced Assistant Attorney General Brian A. Benczkowski of the Justice Department’s […]

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Quad/Graphics and LSC Communications Abandon Merger After Antitrust Division’s Suit to Block

Department of Justice Office of Public Affairs FOR IMMEDIATE RELEASE Tuesday, July 23, 2019 Decision to Terminate Deal Preserves Competition in Magazine, Catalog, and Book Printing Markets The Department of Justice announced today that Quad/Graphics Inc. and LSC Communications Inc. have abandoned their planned merger.  The Department filed suit on June 20, 2019, to block […]

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President of Insulation Contracting Firm Pleads Guilty to Antitrust and Fraud Charges

Department of Justice Office of Public Affairs FOR IMMEDIATE RELEASE Wednesday, July 17, 2019 Paul M. Camara Jr., president and co-owner of an insulation contractor, pleaded guilty today in Bridgeport, Connecticut, for his role in schemes to rig bids in violation of the antitrust laws and engage in criminal fraud on insulation contracts, marking the […]

Banking & Securities Fraud Our Daily News Securities Fraud US Department of Justice (DOJ)

Antitrust Division Announces New Policy to Incentivize Corporate Compliance

Department of Justice Office of Public Affairs FOR IMMEDIATE RELEASE Thursday, July 11, 2019 During remarks today, Assistant Attorney General Makan Delrahim announced the Antitrust Division’s new policy for incentivizing antitrust compliance. For the first time, the Division will consider compliance at the charging stage in criminal antitrust investigations, a change which is reflected in […]