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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: ild who wrote (68910)	8/27/2006 2:12:13 PM
From: ridingycurve	Respond to of 110194

>>Who is the authority to make a decision of what was/wasn't fraud?<< In the case of agency securitizations I believe the agencies make the determination, although the actual discovery might be by the originator or servicer. Fraud is often clear cut, like an overstatement of income. Other times it might not be, like inflated appraisals. Most SFD appraisals probably are inflated during periods of rapid appreciation. How else could the rapid appreciation occur? IOW, how can one consistently derive higher values than the comps? Thanks for pointing the post out to me. Not much I can say about the particular recourse since I'm not familiar with the type securitizations held by H&R.