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Morgan Stanley latest to settle with Massachusetts

Before Massachusetts Attorney General Martha Coakley gained notoriety as a failed Democratic candidate for the U.S. Senate, she was best kno

Excerpts from this story referencing "New Century":

"… to pay $102 million to settle an investigation into its relationship with New Century Financial Corp.Morgan Stanley packaged risky loans “that were destined t …"

"… .Morgan Stanley packaged risky loans “that were destined to fail” from New Century into securities and loaned the now-defunct lender billions of dollars, Coa …"

"… or poor underwriting,” but were lucrative for subprime lenders, she said.New Century was once the third-biggest subprime lender in the United States, according …"

"… lic Integrity investigation into the financial meltdown. From 2005 to 2007 New Century made at least $76 billion in high interest loans.As part of the agreement, …"

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 "mortgage broker":

"… he current depressed housing market,” according to the report, including mortgage brokers, lenders, investors, investment banks, and credit rating agencies.The FBI …"

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 "New Century":

"… gages in the nation’s 10 hardest-hit foreclosure hotspots, trailing only New Century Financial. In the Fort Pierce-Port St. Lucie area in Florida, for exa …"

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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 "New Century":

"… ury Department. The company was second only to now-defunct subprime lender New Century Financial Corp. of Irvine, Calif.For instance, the Treasury report said WM …"

"… risk home lenders in Southern California that melted down — Countrywide, New Century and IndyMac Bancorp — without finding clear evidence that top executives …"