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Detailed text transcripts for TV channel - MSNBC - 20110204:21:49:00

lot of the borrowers to work directly with the banks or the lenders to work with the borrowers. what has happened is we have created a cottage industry of these mortgage loan modification scammers. i have over 200 companies in my state that were actively investigating and criminally prosecuting for some sort of loan modification scam. they know that the banks and the lenders, whoever, are not talking with these borrowers. >> i want to get to the root of the fraud here. it is unclear whether this is your responsibility as ag or the department of justice or the federal regulators but i love your insight in the report there is description of the practice of selling loans that were known to be fraudulent to pension funds, to banks, to investors. the equivalent of selling known garbage to an investor and

Banks , Lot , Lenders , Borrowers , Mortgage-loan-modification-scammers , Cottage-industry , State , Sort , Prosecuting , Whoever , Loan-modification-scam , 200