UBS Group sold tens of billions of dollars' worth of residential mortgage-backed securities by "knowingly and repeatedly" making false and fraudulent statements to investors about the loans backing those trusts, the U.S. Justice Department said in a civil suit filed Thursday.
Growing home prices plus rising interest rates are putting a damper on mortgage lending, which pushes the market to seek out less qualified borrowers and increases the risk of fraud.
There are several reasons, including the fact that many prospective borrowers are finding it harder to qualify for a mortgage and obscuring the truth as a result.
A mortgage fraud scheme involving fake employment records, initially thought to be contained to Southern California, is occurring statewide, Fannie Mae said in a new fraud alert.
The former Trump campaign chair got $16 million in mortgages from The Federal Savings Bank. His trial is shedding new light on what the bank's CEO allegedly received in return.
The roster of of potential witnesses at the trial of President Trump's former campaign manager includes current and former employees of Citizens Financial Group, Banc of California and The Federal Savings Bank.
A new court filing suggests that Stephen Calk was named to a 13-member economic advisory team in 2016 in exchange for approving a $9.5 million loan to former campaign manager Paul Manafort.
The Federal Savings Bank has been under a spotlight since it was revealed that it provided $16 million in mortgages to onetime Trump campaign manager Paul Manafort.
Two Democrats on the House Oversight Committee asked the panel's Republican chairman to issue a subpoena for documents related to Stephen Calk, whose bank made loans to former Trump campaign manager Paul Manafort.
The Chicago bank is denying a report that its CEO, Steve Calk, made $16 million in mortgage loans to former Trump campaign chairman Paul Manafort in exchange for a job in the White House.
