How Widespread Mortgage Fraud Toppled the U.S. Housing Market

[mEDITate-OR:

see a wonderfully written and researched set of articles about the RE mess.

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JGBHimself | 05/06/10 11:02 PM

First, permit me to complement you on your three part series. Exceptionally well done.

Second, permit me to concur in the prior comment that no woe-man is an island.

A few years ago a long time appraiser, and friend, who worked in the Olyberg, WA area refused to do any more appraisals for WAMU. Bcuz they demanded - along with the RE agent/broker, mortgage broker, escrow agent (yes, them too), builder/seller - that he deliver a value that supported the RE Earnest Money Agreement.

Now in AZ we too are finding that it was MUCH worse down here than back there. Larger, but not different.

Everybody was making so much money they not only did not want it to stop, they would do anything to close The Deal.

As the very old man said to the young woman: "Anything..., my dear?"

In RE for U.S. it WAS anything.

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How Widespread Mortgage Fraud Toppled the U.S. Housing Market

http://www.realestatechannel.com/us-markets/residential-real-estate-1/real-estate-news-mortgage-fraud-countrywide-new-century-mortgage-afg-financial-robert-morganthau-fitch-ratings-new-york-daily-news-huffington-post-2433.php

-------------    Two (2) of Three (3)

Terms of Endearment: How the Speculative Madness Was Financed

ttp://www.realestatechannel.com/us-markets/residential-real-estate-1/real-estate-news-keith-jurow-real-estate-finance-real-estate-bubble-home-loans-mortgage-loans-reo-properties-housing-bubble-new-york-times-2335.php

-----------     One (1) of Three (3)

How Speculative Madness Changed the Housing Market

http://www.realestatechannel.com/us-markets/residential-real-estate-1/real-estate-news-us-housing-bubble-real-estate-speculators-real-estate-investors-housing-market-crash-wsj-article-2267.php

----------     Before the After

Investors Played a Key Role in Creating Housing Bubble

http://www.realestatechannel.com/us-markets/residential-real-estate-1/real-estate-news-real-estate-investors-real-estate-speculators-home-foreclosure-crisis-realtytrac-national-association-of-realtors-home-foreclosure-rates-in-2010-2136.php

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Keith Jurow, Ph.D., is a former senior economic writer for the Holt Investment Advisory of Westport, Connecticut, where he researched and wrote semi-monthly articles on important topics of financial interest. During that time, he wrote extensively about different aspects of the housing market. After that, he partnered with a prominent New Haven attorney to develop an innovative home equity conversion program for retirees (sale and leaseback), which he marketed to real estate investors and seniors.

More recently, Keith has been researching and writing about the housing debacle with an eye for stories that are frequently ignored. For example, his article, Investors Played Key Role in Creating the Housing Bubble, provides an in-depth look at how investors and speculators fueled the bubble and helped to bring the housing market to its knees. During the week of February 22, 2010, it was posted on the website of Wall Street analyst Charles Payne. That same week, it was one of the main sources for Fox Business’ feature story about the foreclosure crisis in Chicago.

Keith is a graduate of Cornell University , received an M.A. and Ph.D. from the New School in Manhattan , and taught on the undergraduate level for 11 years

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