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Loan Modification

: Mortgage Lender Implode-o-Meter

MoneyGram to pay $80M and replace 3 on board

By Implode-Explode Heavy Industries

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"MoneyGram International Inc. agreed to replace three board members and pay $80 million to resolve claims that it defrauded investors by allegedly concealing its exposure to the subprime mortgage crisis until hundreds of millions of dollars in shareholder wealth was wiped out."

Full post as published by Mortgage Lender Implode-o-Meter on February 26, 2010 (boomark / email).

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