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Sloppy Bookkeeping In Securitizations Beginning To Bite Financial Institutions As Big Squeeze On Lenders, Servicers Looms In The Horizon

By r morris

The New York Times reports:WE are all learning, to our deep distress, how the perpetual pursuit of profits drove so many of the bad decisions that financial institutions made during the mortgage mania. But while investors tally the losses that were generated by loose lending so far, the impact of another lax practice is only beginning to be seen. That is the big banks? minimalist approach to

Full post as published by The Home Equity Theft Reporter on March 01, 2009 (boomark / email).