Posts Tagged ‘fraud’

Today Show: “So, Countrywide employees were coaching them to lie?” Insider: “Yes.” Ex Countrywide Manager Exposes Its Lies | Consumerist

Hundreds of brokers netted in FBI sweep Arrests include two former Bear fund execs charged with fraud | MSNBC

“Two defendants have agreed to settle Federal Trade Commission charges for allegedly victimizing Spanish-speaking consumers nationwide by posing as debt collectors seeking money the consumers did not owe.” Defendants in Debt Collection Scheme Aimed At Hispanics Agree to Settle FTC Charges [FTC News]

Consumers for Auto Reliability and Conscious Youth Media Crew in California put together Insider Car Report a very good quick look at car buying. Its worth a look and of course there are all the link to similar clips.

The New Jersey District Court fined two individuals and one corporation $530,000 for calling consumers who registered with the national Do Not Call registry and for spoofing caller ID information. (Telemarketers are required to transmit accurate caller ID information or none at all.)
(Thanks, Jason!)

Surprise Surprise . . . mortgage rescue scams on the rise!!! Beware of anyone offering to rescue your home from foreclosure. If you are tempted, find a consumer lawyer to review the deal prior to closing.

The NYTimes has a piece on the 5th Annual Conference of the American Securitization Forum held in Las Vegas. These are the guys who played a major role in bring us the current foreclosure mess. Well while the rest of the country and the world for that matter mucks its way out of the mess [...]

I guess better late than never. The NYTimes is reporting that the Federal Bureau of Investigation has opened criminal inquiries into 14 companies as part of a wide-ranging investigation of the troubled mortgage industry. The F.B.I. is supposedly looking into possible accounting fraud, insider trading or other violations in connection with loans made to borrowers [...]

I am torn. I don’t know whether I should post this link or hope it dwindles into obscurity (unlikely). The website says it all:

You Walk Away promises to help homeowners walk away from their current mortgage with no debt, no strings, and says ballsy things like this:
You will immediately know the exact amount of days [...]

While it is good news that the government will not bail out lenders, President Bush’s announcement today of his plan to deal with subprime loans. As it turns out, the plan is pretty limited. The only borrowers who will be able to take advantage are those whose adjustable-rate mortgage has not yet adjusted. The plan [...]