Wednesday, August 31, 2016

Did whistleblower out First Mortgage's $7.5 million Ginnie Mae mortgage bond fraud?

The Securities and Exchange Commission is offering a reward to the whistleblower that revealed a scheme at First Mortgage Corporation that involved several of the company’s senior executives lying about the performance of the mortgages the company originated, re-securitizing them, and defrauding investors out of $7.5 million – if in fact there is one.

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