http://4closurefraud.org/2010/06/01/lps-april-mortgage-monitor-report-stabilization-clouded-by-elevated-pool-of-distressed-loans-and-rate-of-new-delinquencies/
This is the company that just got busted submitting fraudulent documents to the courts.
They were made up on demand.
Not copied, but actually made up.
The nations leading repository for loan documentation was making up the information on an as needed basis.
Now think car loans.
Have you heard about people's cars being repossessed because supposedly the prior owners note hadn't been paid off?
More than likely they were paid off but the paperwork was never recorded to show it.
Think about it.
Note: Totals based on LPS Applied Analytics’ loan-level database of mortgage assets.
LPS manages the nation’s leading repository of loan-level residential mortgage data and performance information from nearly 40 million loans across the spectrum of credit products. The company’s research experts carefully analyze this data to produce dozens of charts and graphs that reflect trend and point-in-time observations for LPS’ monthly Mortgage Monitor Report.
