Consider offering informational material about mortgage financing and credit rebuilding to customers.
For The Record Los Angeles Times Thursday, January 23 , 2014Home Edition Main News Part A Page 4 News Desk 1 inches; 41 words Type of Material: Correction Mortgages: An article in the Jan . 18Business section about interest-only mortgages said that up to $1 million in mortgage interest per year is tax-deductible.
Almost all the prospectuses and sales material on mortgage-backed bonds sold from 2005 until 2007 were a compound of falsehoods.
We cannot, he said, "mortgage the material assets of our grandchildren without risking the loss also of their political and spiritual heritage".
10 A.M. (USA) DRAG ME TO HELL (2009) Christine (Alison Lohman, below), a tenderhearted loan officer, tries to prove to her boss (David Paymer) that she's middle-management material by denying a mortgage extension to a rather nasty-looking crone (Lorna Raver), who later expresses her displeasure via a witch's curse in an underground parking garage.
Fraud was a material part of the mortgage collapse, a big factor in commercial property and loan losses and a component in investment banking and private-equity losses that did more damage than acknowledged.Mathematical models cannot predict or uncover fraud as well as some may think.
We cannot mortgage the material assets of our grandchildren without risking the loss also of their political and spiritual heritage.
Earlier this year, the Securities and Exchange Commission appeared to challenge the big-boy concept, suing Goldman Sachs for failing to disclose material information about some subprime-mortgage securities that it sold, but the case was resolved without Goldman's admitting any wrongdoing.
Even so, the sales material also boasted that the mortgages linked to C.D.O.'s had historically low default rates, citing a "recently completed" study by Standard & Poor's ratings agency — though fine print indicated that the date of the study was September 2002, almost five years earlier.
Goldman Sachs also outlined additional measures and claims it will now take to toughening oversight of mortgage securities, marketing materials and the employees who create or pitch.
