Financial and Mortgage Fraud Career
Since the Olympics in 1996, Lavalle has pursued the investigation, analysis and exposure of mortgage fraud, abuse and predatory lending, servicing and securitization schemes. He began his investigation in 1993 after identifying mortgage fraud on a family property in Dallas, Texas.
In 2000, Lavalle as a whistleblower and activist registered a number of Internet domain names involving the trademarks and service marks of Bear Stearns and EMC Mortgage and claimed on the websites that they were engaged in predatory servicing and lending abuses as well as cooking their books. Lavalle claimed that Bear Stearns and EMC's mortgage practices would ultimately bring down the U.S. economy and international financial markets via their frauds and abuses in the securitization of mortgages. Bear Stearns filed a lawsuit and obtained an injunction against Lavalle preventing his use of those names.
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Famous quotes containing the words financial, mortgage, fraud and/or career:
“America is a nation with no truly national city, no Paris, no Rome, no London, no city which is at once the social center, the political capital, and the financial hub.”
—C. Wright Mills (1916–1962)
“Loosened from the minor’s tether;
Free to mortgage or to sell,
Wild as wind, and light as feather
Bid the slaves of thrift farewell.”
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“The disfranchisement of a single legal elector by fraud or intimidation is a crime too grave to be regarded lightly.”
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—Henry David Thoreau (1817–1862)