CONTROL FRAUD | ‘If you don’t look; you don’t find, Wherever you look; you will find’ -William Black
NYTimes Gretchen Morgenson–
Opening a new line of inquiry into the problems that have beset the mortgage loan process, two state attorneys general are investigating Wall Street’s bundling of these loans into securities to determine whether they were properly documented and valid.
The investigation is being led by Eric T. Schneiderman, the attorney general of New York, who has teamed with Joseph R. Biden III, his counterpart from Delaware. Their effort centers on the back end of the mortgage assembly lines — where big banks serve as trustees overseeing the securities for investors — according to two people briefed on the inquiry but who were not authorized to speak publicly about it.
continue reading [NYTimes]
You would think that it is the end, as the have already been depositions taken, showing the notes were never physically transferred into the trusts.
I hope they do something about something, because so far in 50 states the Attorney Generals have known about fraudulent notes and assignments of mortgage,notary fraud and other crimes for over a year and have done nothing about nothing.