Saturday, March 01, 2008


Mortgage Mess Meets Montana

The Billings Gazette is carrying a story about a borrower and a mortgage broker conspiring to fraudulently obtain loans. The story's spin is that the borrower will get to keep the houses and loans that he obtained on the sly, which seems somewhat appropriate considering that he's paid consistently on them. The more interesting angle on the story, I think, is that the borrower will be spending a year in jail for his role and the broker will be spending on the order of five years in the pokey.

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