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#1704998 - 05/31/12 01:33 PM Woman Who Couldn’t Be Intimidated by Citigroup...
A_G Offline
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#1705001 - 05/31/12 01:36 PM Re: Woman Who Couldn’t Be Intimidated by Citigroup... A_G
DeeQ Offline
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Nice to see some whistleblower goodness. smile
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#1705002 - 05/31/12 01:36 PM Re: Woman Who Couldn’t Be Intimidated by Citigroup... DeeQ
A_G Offline
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I agree.

It's finally nice to see some ethics in the business world.
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#1705005 - 05/31/12 01:43 PM Re: Woman Who Couldn’t Be Intimidated by Citigroup... A_G
Peepers Offline
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was this from Yahoo?

are there any sarcastic posts?
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#1705013 - 05/31/12 01:53 PM Re: Woman Who Couldn’t Be Intimidated by Citigroup... Peepers
A_G Offline
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No, sorry.

Bloomberg.
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#1705363 - 05/31/12 07:43 PM Re: Woman Who Couldn’t Be Intimidated by Citigroup... A_G
CRAatBOK Offline

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Further South than I wanna be.
So they can pay out big bucks and walk away? What about all the people hurt by what they did? What about the appraisers others that issued false reports and the people that changed tax returns and financial stmts?

I am glad she won her suit but I am not elated that Citi got by with a slap on the wrist and nobody else paid for their deceit.
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#1705366 - 05/31/12 07:48 PM Re: Woman Who Couldn’t Be Intimidated by Citigroup... A_G
edAudit Offline
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Not defending what they have done. The article stated that they bought the loans and then resold them.

"Hunt’s team was responsible for protecting Citigroup from fraud and bad investments. She and her colleagues inspected loans Citi wanted to buy from outside brokers and lenders to see whether they met the bank’s standards. The mortgages had to have properly signed paperwork, verifiable borrower income and realistic appraisals."

Why is it that only Citi was named?
How about a CMP for the brokers and other lenders that closed on these garbage loans?
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#1705370 - 05/31/12 07:59 PM Re: Woman Who Couldn’t Be Intimidated by Citigroup... A_G
TB 12 Offline
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Good luck finding them Ed. Probably all out of business for the last few years.
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#1705401 - 05/31/12 08:39 PM Re: Woman Who Couldn’t Be Intimidated by Citigroup... A_G
Happy Birthday HappyGilmore Offline
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Pulling people out of the ditc...
honestly, I don't think anyone cared in the fast and furious mortgage days...the government was backing everything, there really was no risk to the bank...if a customer defaulted, the government stepped in and paid it off...

Citi just compounded the issue by takming whatever they were given, instead of rejecting the items that didn't meet their criteria...there was actually fraud on the front end if forms weren't signed, documents were forged, changed, etc...and fraud on the back end by deflating the numbers to make them meet the 5% quota Citi wanted...

guess which has the bigger, deeper pockets and is the easier target...
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#1705416 - 05/31/12 08:48 PM Re: Woman Who Couldn’t Be Intimidated by Citigroup... HappyGilmore
edAudit Offline
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honestly, I don't think anyone cared in the fast and furious mortgage days...the government was backing everything, there really was no risk to the bank...if a customer defaulted, the government stepped in and paid it off...the value of the property appreciated more than the loan so no one lost money. and no one cared including Fannie and Freddie as they all got paid.

Fixed
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#1705460 - 05/31/12 09:41 PM Re: Woman Who Couldn’t Be Intimidated by Citigroup... A_G
Dip Offline
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I wonder how they came up with a settlement of $31 million to thsi lady? Was it really a settlement, or was it partly a reward? Curious what they based it on.
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#1705468 - 05/31/12 09:52 PM Re: Woman Who Couldn’t Be Intimidated by Citigroup... A_G
Happy Birthday HappyGilmore Offline
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Pulling people out of the ditc...
it is percentage based that is tied to the overall amount of the settlement
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