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Loan Modification

: Mortgage Lender Implode-o-Meter

Congressional Oversight Panel Report Highlights Systemic Risk of Foreclosure Fraud

By Implode-Explode Heavy Industries

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"The Congressional Oversight Panel, the TARP watchdog program formerly chaired by Elizabeth Warren and now helmed by former Senator Ted Kaufman, has released a report detailing the failures in the mortgage servicing industry, and the threats to the overall housing market, financial sector and greater economy. The report is chilling; while it rightly says that we don?t yet know the extent of the fraud involved (they call it ?irregularities?), even a small chunk of the mortgage-backed securities market going sour would have major implications for all of us."

Full post as published by Mortgage Lender Implode-o-Meter on November 17, 2010 (boomark / email).

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