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Former Auditor Links FIS Subsidiary To the Subprime Mortgage Meltdown

JACKSONVILLE, Fla. -- A former auditor from Watterson Prime, now owned by Fidelity National Information Services, has charged her former employer with deliberately verifying subprime loans she had kicked back as being bad.

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JACKSONVILLE, Fla. — A former auditor from Watterson Prime, now owned by Fidelity National Information Services, has charged her former employer with deliberately verifying subprime loans she had kicked back as being bad.

The allegation is one of the first times that an employee for an auditing firm involved in the production and marketing of mortgage-backed securities has stepped forward with an account of how some of the very bad mortgages were approved and added to the securities which were then sold with high bond ratings.

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