|
Support HOBB - Become a Sustaining Member |
|
|
Who's Online |
|
We have 16 guests and 1 member online |
|
|
KB Homes Infomercial - Remembering Mortgage Fraud
Cisneros partner in Lago Vista was Bruce Karatz, highest paid CEO in the country with $232 million compensation package. Karatz:
realize how easy it is to buy
How broad the qualification is
Its a life changing experience that we create.
View Ex-HUD Secretary HenryCisneros KB Home Infomercial
|
Mortgage Fraud News
|
NY Times: Unweaving the Web of Deceit and Organized Mortgage Crime |
|
Sunday, 07 December 2008 |
|
Debt Watchdogs: Tamed or Caught Napping?
Moodys, which judges the quality of debt that corporations and banks issue to raise money, had just graded a pool of securities underwritten by Countrywide Financial, the nations largest mortgage lender. But Countrywide complained that the assessment was too tough. The next day, Moodys changed its rating, even though no new and significant information had come to light, according to two people briefed on the change who requested anonymity to preserve their professional relationships. Moodys had assigned high grades to many securities containing Countrywide mortgages. Those securities and mortgages, issued during the lending spree of recent years, later soured leaving investors with large losses and homeowners and communities struggling with foreclosures. Since the subprime mortgage troubles exploded into a full-blown financial crisis last year, the three top credit-rating agencies Moodys, Standard & Poors and Fitch Ratings have faced a firestorm of criticism about whether their rosy ratings of mortgage securities generated billions of dollars in losses to investors who relied on them. |
|
Read more...
|
|
|
Sunday, 07 December 2008 |
|
UsHousingMeltdown.org
The Independent Resource for Housing Market Information. Housing Research - USHM was created to provide the facts and the truth about the housing market. Our product is quality information. The agenda at USHM.org is to provide non-biased information and commentary whether the information leads to or supports buying houses and real estate or not. Read more... |
|
|
DANGER: Homebuilding Industry Look for Bailout |
|
Sunday, 07 December 2008 |
|
A Multi-Billion Dollar Bailout for Those at Fault
Corporate Homebuilders, the Housing Crash and the Mortgage Crisis. Corporate Homebuilders, the Housing Crash and the Mortgage Crisis. The housing market crash and meltdown of the mortgage industry has cost more than 200,000 construction workers their jobs, put 3 million American families in danger of foreclosure and gutted the value of what was the financial security net for most working men and women: their homes. ...
Read more... |
|
|
National Association of Home Builder (NAHB) looks at the industry’s part in Mortgage Fraud |
|
Sunday, 30 November 2008 |
|
Housing Giants Magazine - Mortgage Check
As many builders begin to feel the pressure to liquidate their inventories to meet the demands of their construction contracts and loan terms some revert to decretive practices and fraudulent measures
.Fraud has become the tool of desperation that companies individuals use to maintain lifestyles, livelihoods and bottom lines, says a recent fraud report. Since the housing bubble has burst, the number of fraudulent loans issues during the first three months of 2008 skyrocketed 42 percent compared to the same period in 2007, according to the same August report from the Mortgage Asset Research Institute (MARI). It becomes almost like racketeering because everybody went along with it, even the small builders, says Janet Ahmad, president of Homeowners for
Better
Building. Read more Mortgage Check |
|
|
Homebuilder expecting a handout? Home Builders Hammer FDIC |
|
Wednesday, 26 November 2008 |
|
Agency Is Accused of Curbing Credit From Seized Banks
Home builders from Florida to Texas are railing against the Federal Deposit Insurance Corp., saying the agency is cutting off construction financing from seized banks and demanding early repayment of current loans. The FDIC, which has become a leading advocate for modifying mortgages of financially strapped homeowners, isn't extending that same tolerance to the housing industry, the builders said. |
|
Read more...
|
|
|
FOX 4 Special Report: Mortgage Scheme Exposed |
|
Wednesday, 26 November 2008 |
|
6 Sentenced in Mortgage Scheme Exposed by FOX 4
The ring leader of a north Texas mortgage fraud scheme is heading to federal prison along with seven others. Becky Oliver broke the story back in 2005 exposing a real estate scam that left investors with over-priced homes they couldnt afford. The scheme was detailed in a 49-page federal indictment. After three years, Steve Lucky is finally hearing the word hes been waiting for: prison. "They are going to pay their dues and pay for what they did," said Lucky. I wish it couldve happened faster but it did happen and that is whats important. These guys were caught. Lucky told FOX 4. Related Story: Becky Oliver broke the story back in 2005
|
|
Read more...
|
|
|
Mortgage Fraud Soap Opera Intrigue |
|
Saturday, 22 November 2008 |
|
BusinessWeek: Sex, Lies, and Subprime Mortgages
It may seem like ancient history now, but not long ago the mortgage industry was turning ordinary people into millionaires. One of them was Sharmen Lane, a high school dropout who, like many other young women during the boom, found her way into an obscure banking job with the clunky title "mortgage wholesaler." Her experienceand the experiences of other wholesalers like heroffers a glimpse into the recklessness and indulgence that drove the industry to ruin. Related articles: Henry Cisneros on the Hot Seat - Editorial: Recipe for profits, defects and foreclosures |
|
Read more...
|
|
|
HUD Leaders Cisneros & Martinez and Bad Poicy |
|
Thursday, 13 November 2008 |
|
Kenric Ward: Homewreckers Cisneros & Martinez
Touting his Cuban heritage, Martinez continues to hype homeownership for lower-income minorities. By 2007, Hispanic homeownership hits an all-time high of 50 percent. The Federal Reserve reports that roughly half of these mortgages are higher-cost or subprime loans to buyers with impaired credit. So there you have it: The guy who was in on the ground floor of this countrys housing collapse comes calling with a half-billion of your tax dollars to save the day. Thanks a lot, Mel. Unfortunately, this is a bipartisan scheme. |
|
Read more...
|
|
|
New York Times: Predatory Lending Fair Game |
|
Saturday, 01 November 2008 |
|
Was There a Loan It Didnt Like?
...senior mortgage underwriter at Washington Mutual during the late, great mortgage boom, Ms. Cooper says she found herself in a vise. Brokers squeezed her from one side, her superiors from the other, she says, and both pressured her to approve loans, no matter what. At WaMu it wasnt about the quality of the loans; it was about the numbers, Ms. Cooper says. They didnt care if we were giving loans to people that didnt qualify. Instead, it was how many loans did you guys close and fund? ...After WaMus mortgage lending unit laid her off, she applied for work in its retail banking division. She was turned down, she suspects, because of the critical letters in her personnel file. Ms. Coopers biggest regret, she says, is that she did not reject more loans. I swear 60 percent of the loans I approved I was made to, she says. If I could get everyones name, I would write them apology letters. |
|
Read more...
|
|
|
Saturday, 01 November 2008 |
|
Predatory Lending, Foreclosures, Housing Crisis & Bailouts
Much of America continues to steam about the bailout of Wall Street. But before Wall Street made billions from subprime mortgages, people in North Texas made millions.Wall Street is taking the heat, Main Street and maybe even people you know, may deserve part of the blame...The answer may be right there in your own neighborhood if there are foreclosed homes nearby. Featured News Reports |
|
|
Henry Cisneros Responds to New York Times Article - Its Not My Fault |
|
Friday, 31 October 2008 |
|
Cisneros: Many share blame for economic crisis
Many things share blame for the nation's current economic crisis, including Asian- and oil-fueled liquidity, interest rates kept low too long by the Fed, corporate borrowing binge, speculation in the housing market, and an unusual splitting of housing as shelter to housing as an investment opportunity, former HUD Secretary Henry Cisneros said Sunday...In the context of such activities, Cisneros said, he and others were being blamed for pressing home ownership too far. "Frankly, I don't accept that," Cisneros said. Though he didn't mention it, Cisneros seemed to refer to an Oct. 19 New York Times series on people who helped cause the economic crisis in which his Lago Vista housing project on the South Side was used as an example of a housing project gone bad. Lago Vista was a partnership with KB Home, which built the troubled Mirasol Homes project on the West Side. |
|
Read more...
|
|
| << Start < Prev 1 2 3 4 5 6 7 8 9 10 Next > End >>
| | Results 23 - 33 of 227 |
|
|