Advertisement
Markets

Chain of Title: How Three Ordinary Americans Uncovered Wall Street's Great Foreclosure Fraud

Their names are Lisa Epstein, Michael Redman, and Lynn Szymoniak.

Image removed.

 

  • Author: David Dayen
  • Publisher: The New Press, 320 pages

 

Their names are Lisa Epstein, Michael Redman, and Lynn Szymoniak. In 2009, they were living in Florida, and like many others in the Sunshine State, facing the loss of their homes in the subprime mortgage crisis. Then, they did something lenders never expected - they actually read their mortgage papers. There they uncovered the tip of a massive scam, with banks and mortgage companies faking millions of foreclosure documents and illegally forcing families from their homes.

Fiscal Times journalist David Dayen tells their stories in this 2016 book that picks up where The Big Short left off. He explores how some lenders and servicers engaged in shoddy practices and illegal shortcuts as the market for subprime mortgage securities boomed. They failed to properly transfer ownership among banks, servicers, investors and trustees. When the housing market collapsed, banks and mortgage companies that couldn’t prove they owned a homeowner’s mortgage foreclosed anyway, hiring third party firms and robo-signers to fabricate documents after the fact. The assumption was no one would ever know. And as the book explores, some judges and courts looked the other way - until a few ordinary folks figured out the whole scheme. If you want to understand the subprime mortgage fiasco, you’ll find this book both useful and concerning.

BUY HERE

 

Visit the Kiplinger Bookshelf

Advertisement

Most Popular

HSAs Get Even Better
Financial Planning

HSAs Get Even Better

Workers have more options with flexible spending accounts, too.
July 2, 2020
Find a Great Place to Retire
happy retirement

Find a Great Place to Retire

Our cities provide plenty of space to spread out without skimping on health care or other amenities.
July 2, 2020
What Are the Income Tax Brackets for 2020 vs. 2019?
tax brackets

What Are the Income Tax Brackets for 2020 vs. 2019?

The IRS unveiled the 2020 tax brackets, and it's never too early to start planning to minimize your future tax bill.
June 20, 2020

Recommended

3 Municipal Bond Funds for Rich, Tax-Friendly Yields
Investing for Income

3 Municipal Bond Funds for Rich, Tax-Friendly Yields

Municipal bond funds allow you to enjoy the benefits of tax-exempt income. By investing CEFs, you can sweeten the pot even further.
July 2, 2020
Is the Stock Market Closed for the Fourth of July?
Markets

Is the Stock Market Closed for the Fourth of July?

Independence Day falls on a Saturday in 2020. As a result, the bond and stock markets are closed for a long holiday weekend. Here's a look at the mark…
July 2, 2020
2020 Stock Market Holidays and Bond Market Holidays
Markets

2020 Stock Market Holidays and Bond Market Holidays

Is the market open today? Take a look at which holidays the stock markets and bond markets take off in 2020.
July 1, 2020
13 Best Vanguard Funds for the Next Bull Market
mutual funds

13 Best Vanguard Funds for the Next Bull Market

Optimistic that the bounce since March is indeed the start of the next bull market? Here are the 13 best Vanguard funds to help you make the most of i…
June 25, 2020