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Loan Modification

: Mortgage Lender Implode-o-Meter

KB Home, Countrywide & Landsafe accused of $2.8 billion fraud scheme

By Implode-Explode Heavy Industries

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Homeowners brought a federal racketeering lawsuit on Thursday against KB Home (KBH.N: Quote, Profile, Research), the former Countrywide Financial Corp and appraiser LandSafe Inc, accusing the companies of operating a scheme to fraudulently inflate sales prices of KB homes in Arizona and Nevada.

Full post as published by Mortgage Lender Implode-o-Meter on May 08, 2009 (boomark / email).

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