Hmm.. should this go politics or... yeah, current events.

I worked in the mortgage business mostly-- a year or two off for something else here and there--for 20 years. Investor relations and Investor reports. Hey, i just put the numbers submitted to me in report form and presented them. Always some cubicle people somewhere to goof off with. So the reports- labels and their numbers (like so many beans in a count only with compute generated beans )

Anyway zzzzzzz... hey wake up TPGers ! I have to find the list of the 400 plus:name, position, company and I'll bet I see some hits. Especially with the likes of Golden First and Kadillac Mortgage -yup with a "k"

http://news.yahoo.com/s/ap/20080619/ap_on_go_ca_st_pe/mortgage_fraud

"Thu Jun 19, 12:26 PM ET  AP

WASHINGTON - More than 400 real estate industry players have been indicted since March — including dozens over the last two days — in a Justice Department crackdown on incidents of mortgage fraud nationwide that have contributed to the country's housing crisis.

The FBI put the losses to homeowners and other borrowers who were victims in the schemes at over $1 billion.

"Mortgage fraud and related securities fraud pose a significant threat to our economy, to the stability of our nation's housing market and to the peace of mind to millions of Americans," Deputy Attorney General Mark Filip said in a statement Thursday. The Justice Department and FBI planed to announce the cases at an afternoon news conference in Washington.

Since March 1, 406 people have been arrested in the sting dubbed "Operation Malicious Mortgage" that saw 144 cases across the country. Sixty people were arrested on Wednesday alone, including in Chicago, Miami, Houston and a dozen other regions policed by the FBI.

In a separate sweep, two former Bear Stearns managers in New York were indicted Thursday, becoming the first executives to face criminal charges related to the collapse of the subprime mortgage market.

Across the country, reports of mortgage fraud have soared over the past year as the subprime mortgage market collapsed and defaults and foreclosures soared.

Banks reported nearly 53,000 cases of suspected mortgage fraud last year, up from more than 37,000 a year earlier and about 10 times the level of reports in 2001 and 2002, according to the Treasury Department's Financial Crimes Enforcement Network.

The most common type of mortgage fraud was misstatement of income or assets, followed by forged documents, inflated appraisals and misrepresentation of a buyer's intent to occupy a property as a primary residence.

Over the last several months, the FBI has been investigating an estimated 1,300 mortgage fraud cases — including 19 involving subprime lending practices by U.S. financial institutions.

The Justice Department also is expected to ask Congress for more money to help combat mortgage fraud as part of a larger funding request to curb white collar crime and violent crime... "

oH, EXCUSE ME THERE ARE TWO GUYS IN DARK SUITS AT MY DOOR...BE BACK---i THINK

My last mortgae company hired me to clean up their reporting. Ginnie Mae had suspended them and the less vigilant FannieMae and FreddieMac where reviewing them also. I noticed the appearance of  adj. rate loans, then teaser rate loans and even interest only loans and so called "Hard Money" loans. I even warned the TPG that the housing finance process was degenerating back in early 2006.