Operation Stolen Dreams Steals Mortgage Fraudsters Dreams The Housing Forum, the home and lifestyle information center
Personal note: The schemes have involved industry insiders, such as lending institutions, loan officers, and Realtors. "Home equity loan scheme" public auction" falsifying value of home to by back For less than owned or less than value of home at auction. As well as home equity loan. Not to mention money owed to Govermont that was first in line
Negotiations are currently underway in regards to a national compensation fund for bank foreclosure victims. The negotiations are taking place between all 50 of the state attorney generals, bank regulators, and several of the country’s biggest lenders.
These lenders include J.P. Morgan Chase, Bank of America, Wells Fargo, Citigroup, and Ally Financial (formerly known as GMAC Mortgage).
They are focusing their attention on those cases that involve more complex levels of scheming rather than on the small home buyers who falsified information just to get a house. In most of the current case investigations, a loss of a million dollars or more is involved, and the fraud is being perpetrated by industry insiders
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