Comments on: Bubble Fraud- Let the Lawsuits Begin! http://housingdoom.com/2007/03/04/mortgage-fraud-prosecuted-in-az/ Sat, 11 Feb 2012 07:12:54 +0000 hourly 1 http://wordpress.org/?v= By: ROpenHouse http://housingdoom.com/2007/03/04/mortgage-fraud-prosecuted-in-az/#comment-3964 ROpenHouse Mon, 05 Mar 2007 23:37:28 +0000 http://housingdoom.com/2007/03/04/mortgage-fraud-prosecuted-in-az/#comment-3964 I have seen this in the midwest too. I have also seen how banks are passing the buck on the Mortage broker for "deceptive" practices in advertising. The register guard (Washington D.C area), about how Chevey Chase bank was in a class action lawsuit regarding their loans. CC blames the mortgage broker. Seems like no one wants to take the blame for bad loans :) <a title='RopenHouse.com' href='http://www.ropenhouse.com' rel="nofollow"> - ROpenHouse </a> I have seen this in the midwest too. I have also seen how banks are passing the buck on the Mortage broker for “deceptive” practices in advertising. The register guard (Washington D.C area), about how Chevey Chase bank was in a class action lawsuit regarding their loans. CC blames the mortgage broker.
Seems like no one wants to take the blame for bad loans :)

– ROpenHouse

]]> By: ROpenHouse http://housingdoom.com/2007/03/04/mortgage-fraud-prosecuted-in-az/#comment-3963 ROpenHouse Mon, 05 Mar 2007 23:31:35 +0000 http://housingdoom.com/2007/03/04/mortgage-fraud-prosecuted-in-az/#comment-3963 I have seen examples of this as well as mortgage brokers being deceptive in their advertising as cited in this article. http://www.registerguard.com/news/2007/02/07/b1.bz.loans.0207.p1.php?ref=patrick.net Wonder how many of the banks are going to pass the buck onto the mortgage broker now that the lawsuits are coming? <a title='RopenHouse.com' href='http://www.ropenhouse.com' rel="nofollow"> - ROpenHouse </a> I have seen examples of this as well as mortgage brokers being deceptive in their advertising as cited in this article. http://www.registerguard.com/news/2007/02/07/b1.bz.loans.0207.p1.php?ref=patrick.net

Wonder how many of the banks are going to pass the buck onto the mortgage broker now that the lawsuits are coming?

– ROpenHouse

]]> By: crispy http://housingdoom.com/2007/03/04/mortgage-fraud-prosecuted-in-az/#comment-3962 crispy Sun, 04 Mar 2007 18:12:12 +0000 http://housingdoom.com/2007/03/04/mortgage-fraud-prosecuted-in-az/#comment-3962 "It ought to be apparent to everyone real soon that Phoenix isn’t the only one with a sleazy side to its housing market." We have a lot of left-overs from the "grapes of wrath" around here. Just give them American Idol and some Buck Owens and they are happy. “It ought to be apparent to everyone real soon that Phoenix isn’t the only one with a sleazy side to its housing market.”

We have a lot of left-overs from the “grapes of wrath” around here. Just give them American Idol and some Buck Owens and they are happy.

]]> By: crispy http://housingdoom.com/2007/03/04/mortgage-fraud-prosecuted-in-az/#comment-3961 crispy Sun, 04 Mar 2007 18:09:50 +0000 http://housingdoom.com/2007/03/04/mortgage-fraud-prosecuted-in-az/#comment-3961 Did you guys see the news on FMT shutting down their lending division effective immediately. Did you guys see the news on FMT shutting down their lending division effective immediately.

]]> By: twist http://housingdoom.com/2007/03/04/mortgage-fraud-prosecuted-in-az/#comment-3960 twist Sun, 04 Mar 2007 17:48:54 +0000 http://housingdoom.com/2007/03/04/mortgage-fraud-prosecuted-in-az/#comment-3960 John- I believed the attorney. He's probably too busy to post now! John-

I believed the attorney. He’s probably too busy to post now!

]]> By: John M. http://housingdoom.com/2007/03/04/mortgage-fraud-prosecuted-in-az/#comment-3959 John M. Sun, 04 Mar 2007 17:42:51 +0000 http://housingdoom.com/2007/03/04/mortgage-fraud-prosecuted-in-az/#comment-3959 Crispy - A couple of weeks ago we had a commenter who claimed to be a lawyer in his firm's boardroom with a dozen peers just wrapping up a 3-day marathon strategy session on how they would respond to this billable-hours opportunity. Perhaps he wasn't making that story up. :( Crispy -

A couple of weeks ago we had a commenter who claimed to be a lawyer in his firm’s boardroom with a dozen peers just wrapping up a 3-day marathon strategy session on how they would respond to this billable-hours opportunity. Perhaps he wasn’t making that story up. :(

]]> By: twist http://housingdoom.com/2007/03/04/mortgage-fraud-prosecuted-in-az/#comment-3958 twist Sun, 04 Mar 2007 16:42:17 +0000 http://housingdoom.com/2007/03/04/mortgage-fraud-prosecuted-in-az/#comment-3958 Can you imagine what must be happening in the board rooms of lenders across the nation? I can see CEOs saying: "Here's the problem folks. Revenue is down, and if we don't pass out loans to anyone who can scrawl an 'X' on a dotted line- we're hosed. On the other hand, we are started to see that those guys that have trouble making an 'X' don't pay their bills, and we are having to buy back the loans. If we don't tighten our standards, we're hosed." What do they do? Can you imagine what must be happening in the board rooms of lenders across the nation? I can see CEOs saying:

“Here’s the problem folks. Revenue is down, and if we don’t pass out loans to anyone who can scrawl an ‘X’ on a dotted line- we’re hosed.

On the other hand, we are started to see that those guys that have trouble making an ‘X’ don’t pay their bills, and we are having to buy back the loans. If we don’t tighten our standards, we’re hosed.”

What do they do?

]]> By: twist http://housingdoom.com/2007/03/04/mortgage-fraud-prosecuted-in-az/#comment-3957 twist Sun, 04 Mar 2007 16:22:26 +0000 http://housingdoom.com/2007/03/04/mortgage-fraud-prosecuted-in-az/#comment-3957 Crispy- It ought to be apparent to everyone real soon that Phoenix isn't the only one with a sleazy side to its housing market. Anyone thinking of contacted a RE attorney better do it now- they are all about to get REAL busy. Crispy-

It ought to be apparent to everyone real soon that Phoenix isn’t the only one with a sleazy side to its housing market.

Anyone thinking of contacted a RE attorney better do it now- they are all about to get REAL busy.

]]> By: crispy http://housingdoom.com/2007/03/04/mortgage-fraud-prosecuted-in-az/#comment-3956 crispy Sun, 04 Mar 2007 16:11:23 +0000 http://housingdoom.com/2007/03/04/mortgage-fraud-prosecuted-in-az/#comment-3956 I wish these guys would start investigating the flipper clown in Bakersfield. I wish these guys would start investigating the flipper clown in Bakersfield.

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