Would you support a Mortgage Fraud Amnesty program?
Here's how it could work: The government would offer amnesty (with a fine or illegal proceeds payback) to individuals who admit to their fraud and to who else was involved, and then let the Justice Department focus on the corrupt ringleaders (i.e Mozilo), lenders (i.e. Countrywide and IndyMac), mortgage brokers, appraisers and realtors.
Assuming hundreds of thousands if not millions of people committed mortgage fraud these past few years, and that the undermanned, corrupt and incompetent US justice department doesn't have the resources or intelligence to enforce the laws of the United States anymore, I see an amnesty program as the only viable solution, if the goal is to imprison the top fraudsters while getting to the bottom of the scam that took down the US housing market.
I think it'd be interesting if law enforcement (or the IRS) called up every person who took out a liar's loan from 2001 - 2008 and offered them a deal. You'd be amazed at what we'd find out.