The unfolding foreclosure scandal just keeps expanding. Scrutiny first fell on the “robo-signers” who rubber-stamped banks’ foreclosure paperwork , but they’re one of the many players who may have contributed to the mess.
To help sort it all out, we’ve drawn up a cast of characters. Let’s start with the basics:
Loan Originators/Mortgage Issuers – Banks make mortgage loans to homeowners, which homeowners must repay. The home serves as collateral in case the borrower defaults on the mortgage.
- Foreclosure Moratorium Is Only Sane Response to Shocking Wall Street Mortgage Scams (alternet.org)
- Foreclosure by Rubber Stamp? (abcnews.go.com)