Lee Farkas Says Prison Is Depressing And He Is So Lonely That He Feels Like A Zombie If you didn’t work in wholesale lending during the housing boom, you have probably never heard of Lee Farkas or his now defunct and disgraced company, Taylor, Bean and Whittaker who were a major player in wholesale lending. […]
Mortgage Fraudster Ronnie Duke Never Reported To Prison Six Months Ago The FBI is offering a $5000 reward for information leading to the arrest of former Michigan mortgage fraudster Ronnie Duke. Duke a habitual criminal who rose to become the kingpin of a multi-million dollar mortgage fraud operation had failed to report to federal prison […]
Bank of America To Replace Local Tellers With Low-Wage Video Conferenced Tellers In the past three months, Bank of America has quietly been replacing their ATM machines with models that allow for video conferencing. At first glance, it appears Bank of America did this to make their ATM customers feel all warm and fuzzy. “Too often, […]
Citigroup Selling Servicing Rights as Banks Retreat The U.S. mortgage market’s largest lenders like Citigroup are pulling back amid looming regulations and a drop in refinancing that fueled record profits last year. Bloomberg via National Mortgage News Citigroup Inc., the third-biggest U.S. bank, is selling mortgage-servicing rights on $63 billion of loans, or about 21 […]
Even After Verdict Defiant BofA Execs & Rebecca Mairone Still Pleading Innocence Nate Raymond at Reuters wrote a great piece about Rebecca Mairone aka the Countrywide Hustler Bank of America Corp was found liable for fraud on Wednesday over defective mortgages sold by its Countrywide unit, a major win for the U.S. government in one of the […]
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