Mortgage Fraud

Reports of mortgage fraud are becoming abundant these days.  I read a good book recently called Greed, Fraud and Ignorance: A Subprime Insider's Look at the Mortgage Collapse and it leaves the reader with a good understanding of what went on to cause such an enormous amount of mortgage fraud.

You can check out the author's blog at LendingSanity.com. 

Fraud occurs at every level -- from the borrower who gets a friend to say he has been working at ABC company for two year when he hasn't, to the loan originator who overlooks a spouse's bankruptcy, to a Wall Street executive who hides the risk of investment in a bundle of subprime loans.

The whole deal is insane.  So, what's it going to take to straighten this mess now?