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Think Mortgage Churning and Fraud is controlled ? Think again. (Citi).
Posted by: cbelt3
Date: August 15, 2012 05:39PM
[www.bloomberg.com]

"In March 2011, more than two years after Citigroup took $45 billion in bailouts from the U.S. government and billions more from the Federal Reserve -- more in total than any other U.S. bank -- Jeffery Polkinghorne, an O’Fallon executive in charge of loan quality, asked Hunt and a colleague to stay in a conference room after a meeting.

The encounter with Polkinghorne was brief and tense, Hunt says. The number of loans classified as defective would have to fall, he told them, or it would be “your asses on the line.”

Hunt says it was clear what Polkinghorne was asking -- and she wanted no part of it.
"
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Re: Think Mortgage Churning and Fraud is controlled ? Think again. (Citi).
Posted by: Black
Date: August 15, 2012 11:50PM
Some minor errors, but good article overall, thanks for posting.
Why is this on the political side?


Sadly, googling the guy who ordered her to falsify findings only returns this article and a Linked-In page.
[www.linkedin.com]

I wonder if he's since been promoted...



MR/F Guestmap: [www.mapservices.org]



Edited 1 time(s). Last edit at 08/15/2012 11:50PM by Black.
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