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Josh Goldberg charged with mortgage fraud

January 22, 2013
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Josh Goldberg charged with mortgage fraud

A federal grand jury indicted mortgage broker Joshua S. Goldberg today, alleging he helped steal $2.5 million from various lenders through a mortgage fraud scheme in Baltimore. City Paper first outlined the scheme in this 2008 story. As the financial crisis worsened Goldberg and his husband, Bayardo Alvarez, continued to get big mortgages and...
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Lender CEO Guilty in $3 Billion Fraud

April 20, 2011
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Lender CEO Guilty in $3 Billion Fraud

A federal jury on Tuesday found the flamboyant founder and CEO of bankrupt Florida mortgage lender Taylor Bean and Whitaker guilty of fraud. Lee Farkas appears to be the first CEO convicted of a crime in the five-year-old mortgage crisis. He faces life in prison at his July sentencing. Farkas, a college dropout, founded...
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Fannie and Freddie’s Estimated Tab

October 22, 2010
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Fannie and Freddie’s Estimated Tab

So the Federal Housing Finance Agency announced Thursday that the cost to bail out Fannie Mae and Freddie Mac, The People’s two mortgage guarantors, could top $363 billion, the Wall Street Journal reported early in the day. That’s about the cost of a year’s worth of The Most Powerful Military in the History of...
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Fan-Fred and FHA Together Own a City the Size of Baltimore

August 12, 2010
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Fan-Fred and FHA Together Own a City the Size of Baltimore

Picture every occupied house in Baltimore city. Now picture them empty. That’s the situation we have now, all spread across the country.
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Fraud at the Bottom

May 14, 2010
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Fraud at the Bottom

Go with the fraud and make big bux or fight & get fired, earning the right to battle for your job back in court for five or six years, with a less-than-10-percent shot at winning.
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Taylor Bean Told to Cease and Desist, Suspend Foreclosure Activity on All Remaining Loans

August 26, 2009
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(via Ocala Star-Banner; HT Robb Strupp) Florida-based Taylor, Bean and Whittaker, formerly the nation’s 12th-largest loan originator and servicer, has filed for bankruptcy reorganization amid new sanctions by the Florida Office of Financial Regulation, the Ocala Star-Banner reports: In a news released issued Monday, TBW said it believes the investigations surrounding the closing...
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Fannie-Freddie Updates

April 22, 2009
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The Chief Financial Officer of Freddie Mac apparently committed suicide this morning or last night. The New York Times says there is no way to know yet whether his death is related to an ongoing investigation of Freddie’s finances. Meanwhile, Fannie and Freddie have reported a 70 percent surge in delinquencies of prime mortgages...
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Primer on the Federal Bailout of Fannie Mae and Freddie Mac

September 8, 2008
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Who are Fannie and Freddie?: Fannie and Freddie are private corporations implicitly (until Saturday; now explicitly) backed by the federal taxpayers. Congress chartered both companies (Fannie in 1938, Freddie in 1970) to “create liquidity” in the mortgage market. What’s Liquidity?: When you borrow $200,000 to buy a home and promise to pay that back...
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