MINYANVILLE ORIGINAL “Real estate fraud is far more profitable and a lot less chancy than walking into a bank with a gun and robbing it ” Curtis Novy a California mortgage analyst tells Minyanville. “And not only is it more lucrative in a lot of cases you’ll also do less prison time.” Data from Bloomberg shows costs "from faulty mortgages and shoddy foreclosures" exceed $72 billion "at the biggest US banks " with Wells Fargo (WFC) Bank of America (BAC) Citigroup (C) JPMorgan Chase (JPM) and Ally Financial -- owned by Cerberus General Motors (GM) and the United States ...