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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 "Ameriquest Mortgage":

"… Bank of America last year, saving it from probable bankruptcy. Second was Ameriquest Mortgage Co. of Orange, California, now defunct, which originated at least $80.6 bi …"

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 …"