Chase mortgage memo pushes 'Cheats & Tricks'Quicklink submitted by Rady Ananda Permalink
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|The Oregonian uncovers a memo from banking giant JPMorgan Chase, providing a rare glimpse into the mentality that fueled the mortgage crisis. The memo's title says it all: 'Zippy Cheats & Tricks.' It's a primer on how to get risky mortgage loans approved - by inflating borrowers' income or falsifying their loan application. One broker said it's 'a perfect example of a Big Bank telling its brokers to commit fraud.'|
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