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A boutique business in fraud HW+

May 09, 2008By

Because we’ve been talking about fraud here in the BuzzPost, a little blurb at the Wall Street Journal Friday caught our eye. It appears two gentlemen out of New York thought it would be a good idea (allegedly, of course) to skim off the top of refinancing activity sold to Fannie Mae, and to “recreate” payment histories for subprime borrowers that had, shall we say, histories more indicative of non-payments. From the story:

3d rendering of a row of luxury townhouses along a street

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