The Mortgage Lender Implode-O-Meter

As millions of Americans are losing their homes, often unjustly because they were enticed into programs that have harmed them, at least one Website is gleefully tallying the number of these outrageous lenders that have run into trouble themselves.

The Mortgage Lender Implode-O-Meter has become so recognized that, according to The New York Times, at the recent Mortgage Bankers Association conference, a speaker addressed how to stay off the website. “No one wants to be number 266,” said Jim Reichbach, a vice chairman and leader of Deloitte’s banking and securities team. “This is a death toll that is equivalent to the casualty ticker of the Vietnam War.”

When you see so many honest people that have been duped in a way that has cost them their homes, and you have seen what mortgage lenders have tried to do to the bankruptcy laws, it is hard not to feel excited watching these blood suckers parish due to their own schemes.