http://www.therealestatebloggers.com/2007/03/20/subprime-lenders-and-wall-street-players-facing-increased-federal-scrutiny/ Real Estate Blog, Mortgage, and Development News Wed, 17 Mar 2010 08:05:23 +0000 http://wordpress.org/?v=2.9.1 hourly 1 http://www.therealestatebloggers.com/2007/03/20/subprime-lenders-and-wall-street-players-facing-increased-federal-scrutiny/comment-page-1/#comment-37910 Brian Hite Thu, 22 Mar 2007 16:52:09 +0000 http://www.therealestatebloggers.com/2007/03/20/subprime-lenders-and-wall-street-players-facing-increased-federal-scrutiny/#comment-37910 Lenders will even accept paperwork that is incomplete, has forged signatures, wrong dates, blatant fraud, concocted incomes, etc.. etc... Plus, all parties; such as, the broker, the title agent, the appraiser, the insurance company, attornies who are not present, etc... all work in collusion with someone inside a MAJOR lender to defraud the buyer and the lending institution. It happens everyday in Illinois and nobody in the government cares at ALL. OBVIOUSLY. They are too busy with real problems, LIKE BANK ROBBERIES.....GET REAL!!!!!!! The amount of real estate fraud in one day is more than all the bank robberies in the USA for 10 yrs. It makes one wonder how much the US government really cares about individuals' Constitutional Rights? The poor are exploited by the rich and the government could care less. Therefore, a wealthy real estate con artist has more rights than the poor and often helpless victim because the GOVERNMENT DOES NOT CARE about PEOPLE!!!!!!! WHO IS GOING TO DO SOMETHING??? WHEN??? NEVER??? Think about all the families and children who are ruined, devastated and helpless. Maybe God himself will swoop down and kill 'em all? It seems like the best choice is for holy vigilante justice or something as ridiculous as that may sound. But it is our only hope. LOL at the US Government and their uselessness for us, 'we the people..." SAD BUT SO VERY TRUE. It is easier to go to jail by forgetting to pay a traffic ticket then it is to steal millions of dollars from fraudulent real estate transactions. This country is undoubtedly NOT run by the people, for the people. I think we should take God's name off of all US currency... He is probably pretty pissed off by now! I bet Iraq has a better real estate institution than us... George Bush probably is all over THAT! This problem is so deep that NOBODY wants to deal with it because the joke is on us, the people of the United States of America who are powerless to corporate fraud, collusion and blatant deception. I care about children and families being ruined by grifters and con artists? Does anybody else care? OBVIOUSLY NOT!!!!!!!!!!!!!! Lenders will even accept paperwork that is incomplete, has forged signatures, wrong dates, blatant fraud, concocted incomes, etc.. etc… Plus, all parties; such as, the broker, the title agent, the appraiser, the insurance company, attornies who are not present, etc… all work in collusion with someone inside a MAJOR lender to defraud the buyer and the lending institution. It happens everyday in Illinois and nobody in the government cares at ALL. OBVIOUSLY.
They are too busy with real problems, LIKE BANK ROBBERIES…..GET REAL!!!!!!! The amount of real estate fraud in one day is more than all the bank robberies in the USA for 10 yrs. It makes one wonder how much the US government really cares about individuals’ Constitutional Rights? The poor are exploited by the rich and the government could care less. Therefore, a wealthy real estate con artist has more rights than the poor and often helpless victim because the GOVERNMENT DOES NOT CARE about PEOPLE!!!!!!! WHO IS GOING TO DO SOMETHING??? WHEN??? NEVER???
Think about all the families and children who are ruined, devastated and helpless. Maybe God himself will swoop down and kill ‘em all? It seems like the best choice is for holy vigilante justice or something as ridiculous as that may sound. But it is our only hope. LOL at the US Government and their uselessness for us, ‘we the people…” SAD BUT SO VERY TRUE. It is easier to go to jail by forgetting to pay a traffic ticket then it is to steal millions of dollars from fraudulent real estate transactions. This country is undoubtedly NOT run by the people, for the people. I think we should take God’s name off of all US currency… He is probably pretty pissed off by now! I bet Iraq has a better real estate institution than us… George Bush probably is all over THAT! This problem is so deep that NOBODY wants to deal with it because the joke is on us, the people of the United States of America who are powerless to corporate fraud, collusion and blatant deception. I care about children and families being ruined by grifters and con artists? Does anybody else care? OBVIOUSLY NOT!!!!!!!!!!!!!!

]]> http://www.therealestatebloggers.com/2007/03/20/subprime-lenders-and-wall-street-players-facing-increased-federal-scrutiny/comment-page-1/#comment-37711 Esko Kiuru Tue, 20 Mar 2007 23:31:27 +0000 http://www.therealestatebloggers.com/2007/03/20/subprime-lenders-and-wall-street-players-facing-increased-federal-scrutiny/#comment-37711 The Federal Government has tasked multiple regulators to oversee the mortgage market and not one of these agencies raised earlier any kind of a flag, red or yellow or whatever color means warning, to the brewing problem. One is just wondering why is that? Now they are looking into it when it's too late. The second issue is that institutional investors kept bying these subprime mortgage securities as if they had blinders on. Supposedly they are professionals who understand risk and know how to evaluate it. No doc loans, option ARMs, they bought it all. What a mess! The Federal Government has tasked multiple regulators to oversee the mortgage market and not one of these agencies raised earlier any kind of a flag, red or yellow or whatever color means warning, to the brewing problem. One is just wondering why is that? Now they are looking into it when it’s too late.
The second issue is that institutional investors kept bying these subprime mortgage securities as if they had blinders on. Supposedly they are professionals who understand risk and know how to evaluate it. No doc loans, option ARMs, they bought it all. What a mess!

]]> http://www.therealestatebloggers.com/2007/03/20/subprime-lenders-and-wall-street-players-facing-increased-federal-scrutiny/comment-page-1/#comment-37702 Sam Chapman Tue, 20 Mar 2007 22:10:52 +0000 http://www.therealestatebloggers.com/2007/03/20/subprime-lenders-and-wall-street-players-facing-increased-federal-scrutiny/#comment-37702 The foreclosure rate in Texas is higher than the national average. I'm sure a lot of us saw this subprime bust coming. I'm afraid that even though the Texas real estate market is pretty hot, this could cool some things. I feel sorry for the home owners who were suckered into the "sweet deals" that these lenders were offering. The foreclosure rate in Texas is higher than the national average. I’m sure a lot of us saw this subprime bust coming. I’m afraid that even though the Texas real estate market is pretty hot, this could cool some things. I feel sorry for the home owners who were suckered into the “sweet deals” that these lenders were offering.

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