John Wake

Turning a Costly Blind Eye to Mortgage Speculators

Now don't be blaming it all on mortgage brokers. I was shocked to hear from a mortgage broker that reps of the subprime lenders encouraged his brokers to lie about borrowers' income. He would have to walk around the office after the rep's visit to re-educate his staff. www.arizonarealestaten...

I believe the fraud was an open secret in the trade, all the way to Wall Street.