A lot of home lenders' bottom lines have been under pressure recently, and that makes it more tempting for mortgage companies to fraudulently double-pledge loans, potentially increasing warehouse lending risk.

There should be broader awareness today than there was during the last decade of this risk of a lender fraudulently pledging the same loans to different warehouse lenders multiple times. Double-pledging played a notorious role in the collapses of nonbank lender Taylor, Bean & Whitaker, and Colonial Bank, a financial institution that served as TBW's lead warehouse lender and that TBW later attempted to acquire. And even if industry participants have short memories, there's generally more scrutiny and regulation in today's market than during the go-go years.

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