mohit | Shared With: Everyone - Jul 22 2008 | jpmorgan, risk, loans, mortgages, investment club, finance
Quoted: The Oregonian reported Friday morning that it obtained a copy of an internal JPMorgan Chase (“JPMC”) memo titled “Zippy Cheats & Tricks” that provides step-by-step instructions on how to enter false data into a loan approval system called ‘Zippy.’ (Hat tip to Calculated Risk.) In essence, an in-house guide to committing mortgage fraud. Here are pertinent excerpts of the Oregonian report:
mohit | Shared With: Everyone - Apr 01 2008 | mortgages, finance, subprime, news, economics, toread
Quoted: I think this is basically a good idea. If the government is going to bail out the people trading with Bear Stearns in an effort to calm the markets, then they might as well go right to the source of the poison and clean up the mortgage mess. But it has to be done right. And I think that insuring the mortgages instead of buying them, as was done in the depression, is an idea with some merit.
Related Content from Around Faves
mortgage
-
Tesco and Virgin to offer mortgages?
5 Favers - lordfinance - 17 hours ago5 Favers
- lordfinance - yesterday13 Favers
