Judge Issues Arrest Warrant For Mortgage Fraud Kingpin Ronnie Duke, the habitual criminal who rose to become the kingpin of a multi-million dollar mortgage fraud operation has failed to report to federal prison in West Virginia. Duke was convicted and sentenced in April to 13 years in prison for using a scheme that used fake […]
Why Isn’t The Detroit Emergency Financial Manager Fighting The Banks Like This Alabama County? JPMorgan Chase agreed to forgive $842 million of debt owed by Jefferson County, Alabama. The new agreement follows a $722 million settlement in 2009 with the U.S. SEC related to the Jefferson County financing. So why isn’t the Detroit Emergency Financial […]
The FHA Wall was the U.S. Government’s Version Of Apartheid Growing up in the white Detroit suburbs in the 1970s and 1980s, I had never heard of theFHA mandated Birwood Wall until I was in mortgage lending about ten years ago. Up until then. I just thought of it as just a wall. Like many […]
Michigan GOP Sponsored Foreclosure Bills Would Cost Banks Money & Would Not Speed Up Foreclosures As I wrote about last week, the Michigan GOP dominated Michigan Legislature is using legislation written by the Michigan Bankers Association and lobbyists representing foreclosure mill operator David Trott to shorten Michigan’s post Sheriff’s Sale redemption period from six months […]
Organized Crime Has Become the Bankers’ Best Friend Rowan Bosworth-Davies wrote a great piece on his Rowans Blog site about how organized crime has become the banker’s best friend. At a time of significant financial crisis, banks are always looking for ways to maintain their profit margins and encourage inward deposit-taking. Despite stringent anti-money laundering laws, […]
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