High Quality Content by WIKIPEDIA articles! Predatory mortgage securitization (predatory servicing) is a pejorative term used to describe mortgage securitization products that were created with lax underwriting standards and improper due diligence. Such practices fueled the mortgage boom of the nineties and run hand-in-hand with predatory lending and predatory mortgage servicing. The term is believed to have been coined in a 1999 white paper titled "20th Century Loan Sharks" from Americans Against Mortgage Abuse. The paper's author, Nye Lavalle, described four stages of predatory mortgage practices that included: Stage 1—Predatory Mortgage Securitization; Stage 2—Predatory Mortgage Origination/Lending; Stage 3 -- Predatory mortgage servicing; and Stage 4—Predatory Mortgage Foreclosure. The term "predatory servicing" was used in Lavalle's report against Bear Stearns and EMC Mortgage that same year.

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