Comments on: Smith Dollar garners FDIC mortgage fraud contract

By: Cindy S

Cindy S — Mon, 21 Sep 2009 20:26:58 +0000

I wish you luck in solving mortgage fraud cases and seeing the perpetrators crimminally prosecuted. In 2006 the FBI reported that 80% of mortgage fraud was being done by industry insiders. Before that, it predicted severe economic problems would result from escalating mortgage fraud. I don’t know if the FBI came to this conclusion in time to avert the current economic mess, had it gotten the resources it requested at the time to fight it–but I do know that consumer groups and a few professionals were among those who also tried to sound early warnings and were also ignored. It is inconcievable to me that the people doing this didn’t know what they were doing. I’d like to see ‘heads roll’ as they say, instead of these fines and settlements with the govt that allow criminal companies to essentially pay a fee for doing business instead of really being punished. All that does is send the message that if you can get away with fraud it’s acceptable. This country has been seriously damaged by these crimes, and it’s outrageous that mainstream media barely mentions it. All we hear is how these perpetrator industries are the victims…what a sick joke.

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Mon, 21 Sep 2009 12:21:46 +0000

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By: Smith Dollar garners FDIC mortgage fraud contract (North Bay Business Journal) : Real Estate and Mortgage Info

Mon, 21 Sep 2009 12:20:36 +0000

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