But what the f*ck took so long?
Wasn't it OBVIOUS that corrupt toxic lenders like WaMu, Countrywide, IndyMac and First Fed were systematically and blatantly encouraging and participating in rampant illegal mortgage fraud?
It sure was to HP'ers.
(Note - I'm short WaMu and don't see any way this pig survives, especially when they're found guilty of mortgage fraud and have to buy back all the worthless crap paper they issued. Tilt. And if you have money in a WaMu account, GET IT OUT NOW!!!)
WaMu Says Cooperating with SEC on Home Appraisals
NEW YORK (Reuters) - Washington Mutual said on Thursday it is cooperating with a U.S. Securities and Exchange Commission inquiry into the handling and reporting of mortgage loans that may have been based on inflated home appraisals.
The SEC is also looking into whether the company, one of the largest U.S. mortgage lenders, properly accounted for its loans in financial disclosures to investors, according to the Journal, which cited people familiar with the situation.