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The government is waging war against the axis of mortgage evils --
predatory lending, mortgage fraud, subprime loans and non traditional
mortgages. The Federal Bureau of Investigations, recently reminded fraud perps they could get 30 years in the slammer and $1 million in fines, or both.
On another front, Robert Steel, a U.S. Treasury undersecretary
this week told reporters high-risk loan company meltdown is
"manageable.. Hopefully, not in the same way as that other war. Bank regulators fresh from the front rewriting rules for non-traditional mortgages seek the same concessions from the subprime sector..
Foreclosures, more and more often spawned by the evil axis, aren't taking any prisoners.
But they are taking homes. Click Here For Entire Article Source: Broderick Perkins, RealtyTimes.com
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