Foreclose on the Foreclosure Fraudsters, Part 1: Put Bank of America in Receivership

Foreclose on the Foreclosure Fraudsters, Part 1: Put Bank of America in Receivership
William K. Black and L. Randall Wray

In other words, to keep the investors at bay the foreclosing banks must manufacture fake documents. If the original documents do not exist the securities might be ruled no good. If the original docs do exist they will demonstrate that proper underwriting was not done -- so the securities might be no good. Foreclosure fraud is the only thing standing between the banks and Armageddon.

This is a very serious allegation.

http://www.huffingtonpost.com/william-k-black/foreclose-on-the-foreclos_b_772434.html