Items Tagged with 'investigator'


  • Maine Shuts Out 15 Mortgage Rescue Companies

    Regulators in Maine ordered 15 so-called “mortgage rescue” companies to stop doing business in the state because they took advanced fees from homeowners but did nothing to help their clients. According to Will Lund, superintendent of Maine’s Bureau of Consumer Credit Protection, the 15 companies – all of them located out-of-state - collected a combined $36,000 from 30 Maine homeowners and have ignored all communication from state regulators.
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  • IndyMac Probe Uncovers Backdated Cash Infusion

    The Office of Thrift Supervision just might need some supervision for itself. The Treasury Department's independent investigator revealed Monday that OTS allowed IndyMac Bancorp, formerly one of the nation’s largest Alt-A mortgage lenders, to backdate an $18 million capital infusion to maintain its status as a "well-capitalized" institution -- hence, escaping regulatory restrictions -- just two months before the bank's collapse in July.
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  • Postmaster General Under Investigation for VIP Mortgage

    The Friends-of-Angelo story just won't entirely go away, even after stealing headlines earlier this summer. The U.S. postmaster general John E. Potter is under formal investigation by the Postal Service for allegedly receiving a sweetheart deal on his mortgage via Countrywide Financial, officials confirmed to the press over the weekend.
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