Hopefully the Oregonian did their homework and verified this document isn't a fake, but assuming it's real, it's one of the first of many REIC smoking guns to be found - once the FBI and SEC do their jobs and start raiding REIC offices nationwide.
And Angelo Mozilo's home of course...
Here's the skinny on "Zippy":
Chase mortgage memo pushes 'Cheats & Tricks' - The bank says it never backed the strategies, which detail how to get an iffy loan approved
A newly surfaced memo from banking giant JPMorgan Chase provides a rare glimpse into the mentality that fueled the mortgage crisis.
The memo's title says it all: "Zippy Cheats & Tricks."
It is a primer on how to get risky mortgage loans approved by Zippy, Chase's in-house automated loan underwriting system. The secret to approval? Inflate the borrowers' income or otherwise falsify their loan application.