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Loan Modification

: Mortgage Lender Implode-o-Meter

Are Banks Scamming Fannie?

By Implode-Explode Heavy Industries

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"After the Fannie news came out this weekend, a friend called me and his brother works for Chase Mortgage. He told me that Chase is redoing stated income loans and instead of actually appraising the home, they are going back 3 years on the homes valuation in order to get the loan processed. Then they are selling these mortgages to Fannie Mae."

Full post as published by Mortgage Lender Implode-o-Meter on December 30, 2009 (boomark / email).

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