Whistleblower: Wall Street Has Engaged in Widespread Manipulation of Mortgage Funds

ProPublica, May 15, 2020–Heather Vogell
Securities that contain loans for properties like hotels and office buildings have inflated profits, the whistleblower claims. Adam DeSanctis, a spokesperson for the Mortgage Bankers Association, which has helped set guidelines for financial reporting in CMBS, said he reached out to members of the group’s commercial real estate team and none had heard of a practice of inflating profits.