The recent financial crisis was not a natural disaster. It was a man-made economic assault.
That is called a high risk to the business unit. Is that correct?
At least that was the goal.
Based on the consistent and pervasive pattern of activity among these employees, we are recommending firm action be taken.
Had there been a surge of loans that had to be repurchased as well?
I was deeply concerned to the point where there was no question that this had to be escalated up to the Audit Committee.
the events of 2007 were covered in the 2008 report that we are looking at.
Home Loans Risk Mitigation generated alerts that identified patterns of fraudulent loan practices and provided remediation recommendations t...
Now, this high-risk strategy of WaMu, the shift from low risk to high risk, was first implemented in 2004.
Mr. Schneider was certainly concerned with the issues.
Did the audit find that Long Beach then was consistently approving poor loans?