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Zero Hedge Updates The Mortgage Meltdown

05 Oct

In this latest from zerohedge the letters to the DOJ, Bernanke and others are linked along with a brief summary of where we find outselves in this early October unravelling of the mortgage foreclosure and fraud crisis still unwinding across America. Could it be that Congress is catching on to the wide spread fraud of the lenders against the borrowers of this country?  Well, it’s way past time they were – and certainly some of their peers have been on the front lines all alone for long enough…

Mortgage Meltdown Mess Update

Tyler Durden's picture

Submitted by Tyler Durden on 10/05/2010 15:06 -0500

With all the excitement over yet another market melt up, some may have forgotten about the biggest story in process of decimating the US economy, and its entire mortgage-credit backbone. Here is a brief summary of all the comings and goings in the Mortgage Meltdown Mess, which may explain why the Fed is getting aggressive about inflating the living feces out of $10+ trillion in mortgage debt.

Rep. Zoe Lofgren and CA Democratic Delegation Asks for Investigations
http://lofgren.house.gov/images/stories/pdf/letter_to_investigate_banks_-_final_10.4.10.pdf

AFL-CIO Reiterates Call for Foreclosure Moratorium
http://blog.aflcio.org/2010/09/30/banks-should-follow-chase-and-declare-moratorium-on-foreclosures/

Freddie Demands Review of Servicer Policy
http://www.freddiemac.com/sell/guide/bulletins/pdf/iltr100110.pdf

Senator Menendez Sends Stern Letters to Banks, Asks for GAO Investigation

The Next New Century? LPS under investigation by Florida AG

 

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