MFI-Miami is an independent compliance company created by the need to determine if a homeowner was a victim of fraudulent mortgage practices on both the compliance and securitization level. Since opening in June, 2008, MFI-Miami has expanded its service offerings to law firms specializing in foreclosure defense. These firms now comprise up to 90% of it’s business. MFI-Miami has become a nationally-recognized leader for investigating mortgage fraud, mortgage compliance, predatory lending... Read more

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Randall Chase, Huffington Post Washington Mutual Inc. has tentatively resolved disputes with JPMorgan Chase & Co. and the Federal Deposit Insurance Corp. over some $4 billion at issue in the bank holding company’s Chapter 11 bankruptcy, a WaMu attorney said Friday. The FDIC seized Washington Mutual’s flagship bank in 2008 and sold its assets to JPMorgan for $1.9 billion. The sale resulted in the two banking companies and the government agency trading lawsuits over roughly... Read more

The government’s top securities regulator called Thursday for Congress to impose new oversight on financial derivatives, warning that allowing risky instruments like credit default swaps to continue unfettered could bring further economic damage. The chairman of the Securities and Exchange Commission, Mary Schapiro, said banks that deal in the swaps must be subject to rigorous requirements for holding capital. They must also conduct their business in accordance with rules and their... Read more

Ryan McCarthy, Huffington Post The arcane “accounting gimmick” employed by Lehman Brothers as the firm failed in 2007 and 2008, was, in fact, like “a drug” propelling the bank to conceal the true nature of its financial health, according to bankruptcy documents released yesterday. As news organizations pour through the 2,200 documents released by Anton Valukas, the examiner in charge of sifting through the most expensive bankruptcy in history, new details have... Read more

Shahien Nasiripour, Huffington Post The examiner in charge of investigating the collapse of venerable Wall Street investment house Lehman Brothers, the most expensive bankruptcy in U.S. history, said in a report publicly released Thursday that senior officials failed to disclose key practices, opening them up to legal claims, and that JPMorgan Chase and Citigroup contributed to the firm's collapse. In addition, the report concludes that the firm's auditor, Ernst & Young,... Read more

A report into the collapse of Lehman Brothers criticises senior executives and auditor Ernst & Young for serious lapses that led to the firm's collapse. The report says Lehman was insolvent for weeks before it went bankrupt, sparking a global financial meltdown. It accuses management of ?actionable balance sheet manipulation' and using accounting tricks to hide debts. Ernst & Young said that its last audit of Lehman was ?fairly presented' according to accounting rules.