Data shows Deutsche Bank was key patron of questionable mortgage lenders

By Michael Hudson

Data shows Deutsche Bank was key patron of questionable mortgage lenders

Excerpts from this story referencing "Robert Khuzami":

"… s role in the subprime market, its general counsel for U.S. operations was Robert Khuzami, who left in 2009 to become head of enforcement at the Securities and …"

Claims of high-pressure sales, fraud at odds with Quicken Loans’ straight-shooting image

By Michael Hudson

Quicken Loans, the giant mortgage lender founded by Cleveland Cavaliers owner Dan Gilbert, goes on trial Tuesday in Detroit to face allegati

Excerpts from this story referencing "Ameriquest Mortgage":

"… y were against some of the nation’s most tarnished home lenders, such as Ameriquest Mortgage and Countrywide Financial. But they do shine a light on the practices and …"

FactWatch: Fannie and Freddie were followers, not leaders, in mortgage frenzy

By Michael Hudson

Republicans insist that Fannie Mae and Freddie Mac "were the main cause of the nation's current financial turmoil” but a look at the data sh

Excerpts from this story referencing "Washington":

"… ie and Freddie and other instruments of government policy, the paper says, Washington “subsidized and, in some cases, mandated the extension of credit to high …"

Boiler rooms, foreclosure mills: The story of America’s mortgage industry

By Michael Hudson

The news about the nation’s foreclosure scandal has been coming fast and furious, driven by tales of backdated documents, false affidavits a

Excerpts from this story referencing "Ameriquest Mortgage":

"… created fake W-2 tax forms that exaggerated loan applicants’ earnings.At Ameriquest Mortgage, one of the companies I focus on in my new book about the subprime mortgag …"

Subprime lending execs back in business five years after crash

By Daniel Wagner

Executives from all of the top 25 subprime lending firms are working in the mortgage business five years later.

Excerpts from this story referencing "bank":

"… Sept. 15, Lehman Brothers Holdings Inc. filed for Chapter 11, the largest bankruptcy in the nation’s history. The move set off a series of dramatic act …"

"… ff a series of dramatic actions in Washington, D.C., and on Wall Street as bankers and regulators sought to avoid a shutdown of the global economy. To mar …"

"… rs hastened the downfall of Merrill Lynch after the Wall Street investment bank bought it in 2006 for $1.3 billion. He was still running First Frankl …"

"… t assure the quality of the loans we originate.” The next year, federal banking regulators said First Franklin was among the lenders with the highest f …"

Feds investigating possible fraud at GE’s former subprime unit

By Michael Hudson and E. Scott Reckard

Federal investigators looking into possible fraud at GE's now-closed subprime lender

Excerpts from this story referencing "Ameriquest Mortgage":

"… tgage brokers, making it a less-familiar name than giant retailers such as Ameriquest Mortgage Co. and Countrywide Financial Corp. Still, in 3½ years under GE’s owner …"

Whistleblowers ignored, punished by lenders, dozens of former employees say

By Michael Hudson

Former mortgage company employees say fraud was widespread in industry

Excerpts from this story referencing "Ameriquest Mortgage":

"… ity,” said Ed Parker, former fraud investigations manager at now-defunct Ameriquest Mortgage Co., a leading subprime lender. “But we were not welcome because we affe …"

FBI brags about chasing down mortgage fraudsters but big banks are left untouched

By Michael Hudson

FBI report identifies mortgage fraudsters of all stripes – except banks

Excerpts from this story referencing "Ameriquest Mortgage":

"… and attorneys general around the nation. The state authorities accused its Ameriquest Mortgage subsidiary of using bait-and-switch salesmanship, inflated appraisals and …"

A roundup of investigations in the three years since the last market crash

By Shirley Gao

iWatch News reports on the financial crisis from 2008 to now

Excerpts from this story referencing "Center for Public Integrity":

"… re the key players? Where do regulators go from here? Here, we recount the Center for Public Integrity’s top stories on the 2008 financial meltdown and the subsequent market a …"

A peek into the art of mortgage duplicity

By Michael Hudson

In many of Ameriquest Mortgage’s far-flung sales branches, employees outfitted break rooms or spare cubicles with the tools they needed to c

Excerpts from this story referencing "Ameriquest Mortgage":

"… published on the Political Bookworm blog at the Washington Post. …"

16 cents on the dollar: Doing the math on Mozilo settlement

By Michael Hudson

In the end, Angelo Mozilo settled for pennies on the dollar. ...

Excerpts from this story referencing "Ameriquest Mortgage":

"… ountrywide eventually succumbed to the temptation to follow the example of Ameriquest Mortgage Co. and its billionaire owner, Roland Arnall, an entrepreneur who was in m …"

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 "law":

"… , as non-bank mortgage originators don’t have to file SARS under current law, according to Grassano. So there would be no SARs from non-depository mort …"

"… f all subprime loans made in those three years.The loophole in the current law for nonbank lenders drew criticism from Congresswoman Maxine Waters, a Cal …"

Mortgage companies and the new regulatory regime

By Kat Aaron

Everyone knew it was coming. With all the turmoil in the American financial system, a push for re-regulation was inevitable. The Obama admin

Excerpts from this story referencing "Washington Mutual":

"… Mac, which was seized by the FDIC in July 2008. Also on the OTS roster was Washington Mutual, whose collapse in September 2008 stands as the single biggest bank failur …"

No. 15 of The Subprime 25: CitiFinancial / Citigroup Inc.

Total high-interest loans 2005-2007: At least $26.3 billion

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 "Bush":

"… k bailout programs. Bailout Recipients On Oct. 3, 2008, former President Bush signed the $700 billion Emergency Economic Stabilization Act of 2008& …"

The Subprime 25

A full text list of the top 25 lending companies responsible for subprime loans

Excerpts from this story referencing "Ameriquest Mortgage":

"… inancial Corp. Amount of Subprime Loans: At least $97.2 billion Ameriquest Mortgage Co./ACC Capital Holdings Corp. Amount of Subprime Loans: At least $8 …"