This paper was presented at the ABA Section of Litigation's 2012 Annual Conference (Banks Under Siege: The Civil, Criminal, Regulatory and Insurance Fallout from Mortgage Foreclosures and Bank Failures), co-authored by Donna Wilson and Khristopher Knabe of BuckleySandler LLP. The authors review the fundamentals of FDIC receivership, pre-litigation investigation processes, how the FDIC examines claims against officers and directors and its pursuit of residential mortgage malpractice and fraud lawsuits. The authors advise financial institutions to make real commitments to detect and deter fraud including by means such as loan sampling to identify recurring patters among losses.
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