Category Archives: appraisals
Why Mortgage Loan Servicers Behave as They Do
Editor’s Note: It seems that we can’t go three months without hearing about yet another species of misconduct by mortgage servicers that shifts losses onto the lienholders they are supposed to protect. We’ve read reports about force-placed insurance, inflated appraisal … Continue reading
Posted in accounting fraud, allocation of loss, appraisals, auditing, banks, broader credit crisis, causes of the crisis, conflicts of interest, contract rights, costs of the crisis, firing servicers, foreclosure crisis, improper documentation, incentives, investigations, junior liens, lending guidelines, loan modifications, MBIA, MBS, monolines, mortgage fraud, private label MBS, RMBS, robo-signers, securitization, servicer defaults, servicers, settlements, subprime, underwriting guidelines, underwriting practices, Way Too Big to Fail
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FDIC Sues LPS and CoreLogic Over Appraisal Fraud; Shows Investors Leaving Money on the Table
In another sign that the Federal Government is turning its focus towards prosecuting the securitization players who may have contributed to the Mortgage Crisis, the FDIC filed separate lawsuits against LSI Appraisal (available here) and CoreLogic (available here) earlier this … Continue reading
Posted in allocation of loss, appraisals, causes of the crisis, Complaints, conflicts of interest, CoreLogic, FDIC, Federal Home Loan Banks, fiduciary duties, irresponsible lending, lawsuits, liabilities, loan files, loss causation, LPS, private label MBS, re-underwriting, rep and warranty, RMBS, statistical sampling, subprime, successor liability, underwriting practices, valuation, WaMu
Tagged appraisals, CoreLogic, FDIC, LPS, LSI
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