Investment Banks Eye Mortgage Fraud

Investment Dealers Digest January 28, 2008

Swamped by losses in securities pooling home loans, Wall Street’s investment banks have stepped up efforts to uncover fraudulent activity among mortgage brokers who, by some accounts, underwrite as much as 60%-70% of all the nation’s mortgages. In cases of fraud, the Wall Street banks are expected to sue the brokers to recoup some of their losses. Read More.