Scribd Logo
Upload

Welcome to Scribd!

  • 11-09-23 Countrywide Whistleblower Sings

    Uploaded by

    Human Rights Alert - NGO (RA)
    13 views1 page
    Countrywide Financial was the top originator of sub-prime mortgages during in the years leading up to the 2008 economic meltdown. Now we hear first-hand testimony from Eileen Foster, a Countrywide whistleblower who saw fraud on an outlandish scale. In an exclusive interview with iWatch News, the former internal investigator tells how mortgage brokers used scissors, tape and Wite-Out to create fake bank statements, inflated property appraisals and other phony paperwork. Inside the heaps of paper, for example, she found mock-ups that indicated to investigators that workers had, as a matter of routine, literally cut and pasted the address for one home onto an appraisal for a completely different piece of property. Foster was ultimately fired for reporting the violations but has since won a whistleblower case against the company and $930,000.

    Copyright

    © Attribution Non-Commercial (BY-NC)

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document
    Countrywide Financial was the top originator of sub-prime mortgages during in the years leading up to the 2008 economic meltdown. Now we hear first-hand testimony from Eileen Foster, a Countrywide whistleblower who saw fraud on an outlandish scale. In an exclusive interview with iWatch News, the former internal investigator tells how mortgage brokers used scissors, tape and Wite-Out to create fake bank statements, inflated property appraisals and other phony paperwork. Inside the heaps of paper, for example, she found mock-ups that indicated to investigators that workers had, as a matter of routine, literally cut and pasted the address for one home onto an appraisal for a completely different piece of property. Foster was ultimately fired for reporting the violations but has since won a whistleblower case against the company and $930,000.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    13 views1 page

    11-09-23 Countrywide Whistleblower Sings

    Uploaded by

    Human Rights Alert - NGO (RA)
    Countrywide Financial was the top originator of sub-prime mortgages during in the years leading up to the 2008 economic meltdown. Now we hear first-hand testimony from Eileen Foster, a Countrywide whistleblower who saw fraud on an outlandish scale. In an exclusive interview with iWatch News, the former internal investigator tells how mortgage brokers used scissors, tape and Wite-Out to create fake bank statements, inflated property appraisals and other phony paperwork. Inside the heaps of paper, for example, she found mock-ups that indicated to investigators that workers had, as a matter of routine, literally cut and pasted the address for one home onto an appraisal for a completely different piece of property. Foster was ultimately fired for reporting the violations but has since won a whistleblower case against the company and $930,000.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 1

    2231 S Court, Palo Alto, CA 94301 Fax: 323.488.9697; Email: jz12345@earthlink.net Blog: http://human-rights-alert.blogspot.com/ Scribd: http://www.scribd.

    com/Human_Rights_Alert

    Human Rights Alert

    11-09-23 Countrywide Whistleblower Sings

    http://www.iwatchnews.org/2011/09/24/6721/weekly-watchdog-sept-19-sept-23

    The weekly watchdog: Sept. 19 - Sept. 23

    From left: Whistleblower Eileen Foster, Bank of America's N.C. headquarters From left: Todd Wawrychuk/Image Group LA, Chuck Burton/AP File

    By Bill Buzenberg 7:30 am, September 24, 2011 Updated: 7:51 am, September 24, 2011

    Countrywide Whistleblower Sings Countrywide Financial was the top originator of sub-prime mortgages during in the years leading up to the 2008 economic meltdown. Now we hear first-hand testimony from Eileen Foster, a Countrywide whistleblower who saw fraud on an outlandish scale. In an exclusive interview with iWatch News, the former internal investigator tells how mortgage brokers used scissors, tape and Wite-Out to create fake bank statements, inflated property appraisals and other phony paperwork. Inside the heaps of paper, for example, she found mock-ups that indicated to investigators that workers had, as a matter of routine, literally cut and pasted the address for one home onto an appraisal for a completely different piece of property. Foster was ultimately fired for reporting the violations but has since won a whistleblower case against the company and $930,000.

    You might also like