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Operation Malicious Mortgage refers to the actions of the Federal Bureau of Investigation (FBI), the U.S. Department Justice, and other agencies in the June 2008 arrest of approximately 400 people who had been involved in falsifying income statements and helping mislead homeowners to get them to buy houses with payments they could not or did not make. This allowed brokers, banks, and other lending agencies to issue loans to borrowers with low credit ratings and hide this fact from the lenders, who were not aware of the risks involved because of the good ratings given to the debt. [Source: Encyclopedia of White-Collar and Corporate Crime; Operation Malicious Mortgage]
operation malicious mortgage