Reply #50: Done on a case by case basis [View All]

I think you would be surprised at how many don't want their cases looked at on a case-by-case basis - I would venture to say we're talking between 40% and 70% of the entire pool of borrowers (and an even greater percentage of loan originators, underwriters, and securitizers) here, who have at some point benefited by fraud.

To address your point more specifically, there are quite a number of benefits already in the law that apply only to the primary residence. What we found was the result of that was speculators going in on a number of properties and claiming on the loan docs for EACH that it was the primary residence, fraudulently gaining rate and tax advantages by that means.