No. of Recommendations: 16
Even if "buyer's cashout" was as perfectly illegal and prohibited then as it is today (and it was,) I for one have very little doubt that it regularly occured... and that most of the participants weren't even aware that it was either criminally or civilly illegal.

Yes, there was plenty of sleight of hand going on back then. I saw it myself.


Hmm, regularly occurring illegal activities, most participants unaware of the laws, plenty of sleight of hand...

...I still can't quite grok why some people think the mortgage industry needs regulation. I wonder how they came to that conclusion?
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