May 05
Investigations into events surrounding the
virtual collapse of the mortgage lending industry are
expanding on a number of levels.
In addition to examining the general poor underwriting that appears to
have formed the basis of the subprime crisis such as ignoring poor credit
or inflating or failing to document income, prosecutors are also
investigating how lenders may have defrauded Wall Street
banks. For instance, did some lenders lie to Wall Street firms
about…