Chase mortgage memo pushes Cheats & Tricks

March 29th, 2008 by GoldSilver | Posted in Economic News |

The memo’s title says it all: “Zippy Cheats & Tricks.” It is a primer on how to get risky mortgage loans approved by Zippy, Chase’s in-house automated loan underwriting system. The secret to approval? Inflate the borrowers’ income or otherwise falsify their loan application.

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