07/20/2009
https://www.congress.gov...
"No, when there was fraud, what you do is reward the folks that are being investigated with trips."
"We are contemplating selling a larger portion of our Option ARMs than we have in the recent past."
"How does a bank that turns out loans of which 58 or 62 or 83 percent contain misrepresentations or fraudulent borrower information, how does a bank operate that way and expect that there is going to b..."
"And when WaMu qualified a borrower for an Option ARM loan, did the bank use the payment that the borrower would have to make at a recast or did they use a lower payment?"