How Bloomberg Reported This Story
Bloomberg News obtained ARC’s data and documents from Distributed Denial of Secrets. DDoS is a nonprofit journalism organization that receives and archives leaked and hacked information in the public interest. Bloomberg reporters spent months verifying the information, cross-checking it against data provided by Attom Data Solutions, a real estate data company that collects public ownership and transaction records for properties nationwide. Reporters also reviewed public documents on dozens of ARC-owned loans held by county governments across the US as well as loans appearing in five court cases involving ARC. At Bloomberg’s request, three experts examined dozens of loan files to help reporters better understand their significance. Those experts included a forensic accountant, who has been an expert witness in about 100 zombie mortgage cases, and two public-interest attorneys who’ve worked on dozens of zombie cases. Bloomberg also spoke with four people with direct knowledge of ARC’s operations and interviewed 32 homeowners whose loans were purchased by the firm.
How Debt Collectors Spin Riches from Zombie Home Loans
