Manhattan DA Charges 25 in $100 Million Mortgage Fraud

Imagine you are the bank where an empty lot is written up as a $500,000 two family home transaction, and you end up holding on to over-valued nonexistent property and mortgage contracts. These are the types of fraudulent transaction shams major banks were taken for over a period of 4 years.

http://money.cnn.com/2009/07/08/news/mortgage_fraud/