Mortgage fraud reports rise, but some fraud may still be undetected

By Kat Aaron and Nick Schwellenbach

Reports of suspected mortgage fraud — fueled by the current economic crisis — are up in 2008, according to two new reports by the FBI and th

Excerpts from this story referencing "Alt-A":

"… t there may be criminal activity taking place,” he said. Subprime loans, Alt-A, and option-ARM loans are commonly used in mortgage fraud schemes, accordi …"

"… are commonly used in mortgage fraud schemes, according to the FBI report. Alt-A loans typically have less documentation of income or employment than prime …"

The roots of the financial crisis: Who is to blame?

By John Dunbar and David Donald

Banks that financed subprime industry collecting billions in bailouts

Excerpts from this story referencing "Alt-A":

"… keswoman Tatiana Stead responded that GreenPoint’s loans were considered Alt-A, which generally do not require documentation of income but whose borrower …"

Why Fannie and Freddie continue to cost taxpayers billions

By Ben Protess

Treasury secretary to testify Tuesday on mortgage giants, Fannie Mae and Freddi Mac
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Fraud and folly: The untold story of General Electric’s subprime debacle

By Michael Hudson

High-paid employees of fraud-plagued, GE-owned WMC Mortgage included ex-porn star, strippers

Excerpts from this story referencing "Alt-A":

"… ern California where salespeople were pushing subprime loans as well as “Alt-A” mortgages, another type of risky home loan.The team, Riedel says, found …"

"… ness, dead after having pumped out roughly $110 billion in subprime and “Alt-A” loans under GE’s watch, according to industry data tracker Insid …"

"… accounted for the second-highest number of foreclosures on subprime and “Alt-A” mortgages in the nation’s 10 hardest-hit foreclosure hotspots, traili …"