Categories: Mortgage Fraud

First-Time Homebuyer Program Rife With Fraud, Four-Year-Olds File For Credit

Posted by: Chris Palmeri on October 22

Government investigators revealed today that fraud is rampant in the First-Time Homebuyer Tax Credit program. Over 100,000 taxpayers have tried to cheat the system, the IRS says. Some of...

Housing Bust Leads to Rise in Mortgage Scams

Posted by: Chris Palmeri on July 14

When he was Governor of California in the 1970s, Jerry Brown got the nickname “Governor Moonbeam” for his hippy-dippy ways. But he’s pretty shrewdly getting attention these days for...

What Was Angelo Mozilo Thinking?

Posted by: Chris Palmeri on June 05

The SEC complaint against former Countrywide chief Angelo Mozilo has some pretty damning stuff in it. Throughout the 53 page complaint, Mozilo can be seen complaining about the increasingly...

Unintended consequences of regulating mortgage brokers

Posted by: Peter Coy on February 22

It's understandable why people want to increase regulation of mortgage brokers, since many of them contributed to the housing bubble and bust by acting unscrupulously. But economics teaches us to...

Lose a Wallet, Gain a House

Posted by: Dean Foust on July 31

Want to know how sloppy mortgage underwriting was in recent years? This sloppy: The Washington Post published an amazing story today about a local man, Jose Lara, who was surprised...

About

BusinessWeek editors Chris Palmeri, Prashant Gopal and Peter Coy chronicle the highs and lows of the housing and mortgage markets on their Hot Property blog. In print and online, the Hot Property team first wrote about the potential downside of lenders pushing riskier, "option ARM" mortgages and the rise in mortgage fraud back in 2005—well ahead of many other media outlets. In 2008, Hot Property bloggers finished #1 in a ranking of the world's top 100 "most powerful property people" by the British real estate website Global edge. Hot Property was named among the 25 most influential real estate blogs of 2007 by Inman News.

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