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Loan Modification

: Loan Modification & Home Loan News

WAMU?s Long Beach Mortgage Policies Invited Fraud

By Moe Bedard

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However, even after Kosch noticed clues of mortgage fraud ? suspicious income, questionable appraisals or missing documents ? loans usually were approved anyway. Senior managers at Long Beach Mortgage aggressively pushed loans through as one of the nation’s biggest subprime lenders, whose focus was higher-rate loans for risky borrowers. As far as the company was concerned, Kosch’s [...]

Full post as published by Loan Modification & Home Loan News on December 30, 2009 (boomark / email).

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