almost_there
03-21-2009, 06:42 PM
Two stories breaking over the weekend are, strangely, a good thing to see. From my perspective the following articles are bringing to light a crime that's time has come to be exposed. I say it's a good thing strangely because under normal circumstances I wouldn't be relieved to see stories of corruption and large corporations suing one another. But these haven't been normal circumstances. From Bloomberg and Forbes...
AIG Sues Countrywide for Misrepresenting Mortgages (http://www.bloomberg.com/apps/news?pid=20601087&sid=asyt57Oy8jYI&refer=home)
and
The Next Mortgage Mess: Loan Servicing? (http://www.forbes.com/2009/03/20/subprime-mortgages-carrington-capital-business-wall-street-servicers.html)
Servicer's are screwing people on both ends, the borrowers and the investors. I pray I wake up one day very soon to see this story broken wide open!
AIG Sues Countrywide for Misrepresenting Mortgages (http://www.bloomberg.com/apps/news?pid=20601087&sid=asyt57Oy8jYI&refer=home)
and
The Next Mortgage Mess: Loan Servicing? (http://www.forbes.com/2009/03/20/subprime-mortgages-carrington-capital-business-wall-street-servicers.html)
Servicer's are screwing people on both ends, the borrowers and the investors. I pray I wake up one day very soon to see this story broken wide open!