FBI Investigating Secondary Transactions

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MORTGAGE EXPERT
7 · 29 · 10

The Federal Bureau of Investigation is looking into whether former executives of a failed Wisconsin-based lender moved bad subprime mortgages off the books of a company they owned and onto the books of their employer. Losses from the failed firm are estimated at as much as $10 million, and its receiver is planning legal action tied to money that might have been illegally taken.

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