Task force targets home buyers, brokers who lied on mortgage applications - ContraCostaTimes.com: "A law enforcement task force is investigating thousands of Bay Area homeowners, mortgage agents, investors and others who may have committed mortgage fraud, the latest fallout from a housing bubble that wrecked the finances of countless people.
Federal, state, and local investigators who make up the 30-member task force have begun to probe as many as 11,000 cases involving people who may have committed fraud during the residential real estate frenzy, said Assistant U.S. Attorney Susan Badger. She heads the task force on behalf of the U.S. attorney's office in San Francisco.
Some local mortgage agents say at least one-third — and perhaps one-half — of the home loans that were written in the East Bay at the height of the housing bubble were loans with fraudulent documentation about income and debt of borrowers."
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Well, incarceration was the fitting end to the Enron, Worldcom, etc., corporate financial scandals of six years ago. Why not lock up some of these mortgage crooks, including the owners? They need a place to live anyway.
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