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HUD's Report to Congress on the Root Causes of the Foreclosure Crisis

HUD's Report to Congress on the Root Causes of the Foreclosure Crisis

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Published by Foreclosure Fraud
Control fraud is when the CEO of a company uses the corporation as a weapon to commit fraud.

“The result is – we have seen zero prosecutions of the specialty non-prime lenders that caused the crisis,” Black said. “The mortgage bankers are going to position themselves as the victims. This has been so successful that the FBI now has a mantra. They are saying there are two kinds of mortgage fraud. Fraud for profit and fraud for housing. And neither of them is control fraud. They have effectively said – control fraud is impossible. Even though it was the entire story behind the savings and loan crisis, the Enron wave, and the creation of the most recent housing bubble.”
4closureFraud

Florida Foreclosure Defense
Law Offices of Carol C. Asbury
www.FightTheBanksNow.com
Control fraud is when the CEO of a company uses the corporation as a weapon to commit fraud.

“The result is – we have seen zero prosecutions of the specialty non-prime lenders that caused the crisis,” Black said. “The mortgage bankers are going to position themselves as the victims. This has been so successful that the FBI now has a mantra. They are saying there are two kinds of mortgage fraud. Fraud for profit and fraud for housing. And neither of them is control fraud. They have effectively said – control fraud is impossible. Even though it was the entire story behind the savings and loan crisis, the Enron wave, and the creation of the most recent housing bubble.”
4closureFraud

Florida Foreclosure Defense
Law Offices of Carol C. Asbury
www.FightTheBanksNow.com

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Categories:Types, Research, Law
Published by: Foreclosure Fraud on Mar 06, 2010
Copyright:Attribution Non-commercial

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07/01/2012

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Report to Congresson the Root Causes of theForeclosure Crisis
U.S. Department o Housing and Urban DevelopmentOfce o Policy Development and Research
 
Visit PD&R’s website 
to nd this report and others sponsored by HUD’s Oce o PolicyDevelopment and Research (PD&R). Other services o HUD USER, PD&R’s Research Inormation Service, includelistservs, special interest reports, bimonthly publications (best practices, signicant studies rom other sources), accessto public use databases, and a hotline (1–800–245–2691) or help accessing the inormation you need.
 
Report to Congress on the Root Causes othe Foreclosure Crisis
1
U.S. Department o Housing and Urban DevelopmentOce o Policy Development and ResearchJanuary 2010
1
Based on a drat report prepared by Christopher E. Herbert and William C. Apgar, Jr., o Abt Associates Inc. undercontract with the Oce o Policy Development and Research o the U.S. Department o Housing and Urban Development.

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