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Senate probe finds fraud in WaMu mortgage lending

submitted on April 12, 2010 by midget in "Member's Lounge"
http://news.yahoo.com/s/ap/201.....estigation
The panel said the bank's pay system rewarded loan officers for the volume and speed of the subprime mortgage loans they closed on. Extra bonuses even went to loan officers who overcharged borrowers on their loans or levied stiff penalties for prepayment, according to the report being released Tuesday by the investigative panel of the Senate Homeland Security and Governmental Affairs Committee.
     

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  • 58959
    honesta
    master
    Posted by honesta on April 12, 2010
    [reply] 1 0
    Just wamu? Citibank ought to be put in jail fir 7 lifetimes
  • 58960
    midget
    professor
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    Posted by midget on April 12, 2010
    [reply] 1 0
    lol honesta. I don't know about citibank but while we're talking banks, I think B of A has to be one of the worst banks I know of.

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