Discussion:
Mortgage brokers are the real villains in this mess
(too old to reply)
TigerLuck
2008-10-04 01:40:04 UTC
Permalink
I ran into a painter on the job who said that in his area, mortgage brokers would
deposit $30,000 into the account of a client for whom they were trying to get a
loan. The otherwise unqualified buyer would have instant good credit. After the loan
was granted, the broker pulled his money out.
--
Sinatra & Sarah do Witchcraft


Meet Pastor Muthee -- the man who laid hands on Sarah Palin

Reality_Check©
2008-10-04 02:02:24 UTC
Permalink
Post by TigerLuck
I ran into a painter on the job who said that in his area, mortgage
brokers would deposit $30,000 into the account of a client for whom
they were trying to get a loan. The otherwise unqualified buyer would
have instant good credit. After the loan was granted, the broker
pulled his money out.
Complete BULLSHIT !
TigerLuck
2008-10-04 02:34:27 UTC
Permalink
Post by Reality_Check©
Post by TigerLuck
I ran into a painter on the job who said that in his area, mortgage
brokers would deposit $30,000 into the account of a client for whom
they were trying to get a loan. The otherwise unqualified buyer would
have instant good credit. After the loan was granted, the broker
pulled his money out.
Complete BULLSHIT !
Gospel truth, so help me...
--
Sinatra & Sarah do Witchcraft
http://youtu.be/rqs_2CVcWb0

Meet Pastor Muthee -- the man who laid hands on Sarah Palin
http://youtu.be/CsnrIVj9IbM
Reality_Check©
2008-10-04 02:51:31 UTC
Permalink
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
I ran into a painter on the job who said that in his area, mortgage
brokers would deposit $30,000 into the account of a client for whom
they were trying to get a loan. The otherwise unqualified buyer
would have instant good credit. After the loan was granted, the
broker pulled his money out.
Complete BULLSHIT !
Gospel truth, so help me...
Complete BULLSHIT ... not even god can help.

1) Depositing $30,000 doesn't change bad credit into "instant good credit",
in fact it doesn't change your credit score at all.

2) Depositing $30,000 doesn't change anyone's DTI ratios from bad to good

3) Depositing $30,000 *does* raise mortgage underwriter suspicion, and if
being
used towards the purchase of the home, would require a verified source
statement
as to the exact origin of the funds, and a sworn statement that the funds
were
not borrowed/loaned.


Now take your BULLSHIT back to your "painter" friend and tell him to EAT IT.
TigerLuck
2008-10-04 03:06:26 UTC
Permalink
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
I ran into a painter on the job who said that in his area, mortgage
brokers would deposit $30,000 into the account of a client for whom
they were trying to get a loan. The otherwise unqualified buyer
would have instant good credit. After the loan was granted, the
broker pulled his money out.
Complete BULLSHIT !
Gospel truth, so help me...
Complete BULLSHIT ... not even god can help.
1) Depositing $30,000 doesn't change bad credit into "instant good credit",
in fact it doesn't change your credit score at all.
2) Depositing $30,000 doesn't change anyone's DTI ratios from bad to good
3) Depositing $30,000 *does* raise mortgage underwriter suspicion, and if
being
used towards the purchase of the home, would require a verified source
statement
as to the exact origin of the funds, and a sworn statement that the funds
were
not borrowed/loaned.
Now take your BULLSHIT back to your "painter" friend and tell him to EAT IT.
And yet, we are faced with the reality that mortgage brokers were able to obtain
home loans for clients who had no money to put down, no income and no assets.

Some mortgage brokers are exclusively lenders of their own money and provide a
direct source of mortgage funding to clients. This money can be used to secure funds
from a third party. If the deal is done right, the broker can be paid back from the
third party loan.
--
Sinatra & Sarah do Witchcraft
http://youtu.be/rqs_2CVcWb0

Meet Pastor Muthee -- the man who laid hands on Sarah Palin
http://youtu.be/CsnrIVj9IbM
Reality_Check©
2008-10-04 03:28:05 UTC
Permalink
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
I ran into a painter on the job who said that in his area,
mortgage brokers would deposit $30,000 into the account of a
client for whom they were trying to get a loan. The otherwise
unqualified buyer would have instant good credit. After the loan
was granted, the broker pulled his money out.
Complete BULLSHIT !
Gospel truth, so help me...
Complete BULLSHIT ... not even god can help.
1) Depositing $30,000 doesn't change bad credit into "instant good
credit", in fact it doesn't change your credit score at all.
2) Depositing $30,000 doesn't change anyone's DTI ratios from bad to
good 3) Depositing $30,000 *does* raise mortgage underwriter suspicion,
and if being
used towards the purchase of the home, would require a verified
source statement
as to the exact origin of the funds, and a sworn statement that the
funds were
not borrowed/loaned.
Now take your BULLSHIT back to your "painter" friend and tell him to EAT IT.
And yet, we are faced with the reality that
Depositing $30,000 of unsourced funds doesn't do FUCK ALL
to create "instant good credit".
Post by TigerLuck
mortgage brokers were able to obtain home loans for clients who had no
money to put down,
Because those LOAN PROGRAMS themselves didn't require any $$ down, jackass.
Post by TigerLuck
no income
Because those LOAN PROGRAMS themselves didn't require income.
Post by TigerLuck
and no assets.
BULLSHIT.

The sub-prime mortgage products required THE HOUSE as the collateralized
asset
to secure the loan.
Post by TigerLuck
Some mortgage brokers are exclusively lenders of their own money and
provide a direct source of mortgage funding to clients.
Then they must be Registered and Licensed as direct LENDERS and comply
with myriad rules, laws and regulations governing same.
Post by TigerLuck
This money can be used to secure funds from a third party.
If they qualify according to said third party's underwriting requirements.
Post by TigerLuck
If the deal is done right, the broker can be paid back from the third
party loan.
Your original "story" is BULLSHIT, continuing to dig won't get you out of
the hole.
TigerLuck
2008-10-04 03:41:03 UTC
Permalink
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
I ran into a painter on the job who said that in his area,
mortgage brokers would deposit $30,000 into the account of a
client for whom they were trying to get a loan. The otherwise
unqualified buyer would have instant good credit. After the loan
was granted, the broker pulled his money out.
Complete BULLSHIT !
Gospel truth, so help me...
Complete BULLSHIT ... not even god can help.
1) Depositing $30,000 doesn't change bad credit into "instant good
credit", in fact it doesn't change your credit score at all.
2) Depositing $30,000 doesn't change anyone's DTI ratios from bad to
good 3) Depositing $30,000 *does* raise mortgage underwriter suspicion,
and if being
used towards the purchase of the home, would require a verified
source statement
as to the exact origin of the funds, and a sworn statement that the
funds were
not borrowed/loaned.
Now take your BULLSHIT back to your "painter" friend and tell him to EAT IT.
And yet, we are faced with the reality that
Depositing $30,000 of unsourced funds doesn't do FUCK ALL
to create "instant good credit".
Post by TigerLuck
mortgage brokers were able to obtain home loans for clients who had no
money to put down,
Because those LOAN PROGRAMS themselves didn't require any $$ down, jackass.
Post by TigerLuck
no income
Because those LOAN PROGRAMS themselves didn't require income.
Post by TigerLuck
and no assets.
BULLSHIT.
The sub-prime mortgage products required THE HOUSE as the collateralized
asset
to secure the loan.
Post by TigerLuck
Some mortgage brokers are exclusively lenders of their own money and
provide a direct source of mortgage funding to clients.
Then they must be Registered and Licensed as direct LENDERS and comply
with myriad rules, laws and regulations governing same.
Post by TigerLuck
This money can be used to secure funds from a third party.
If they qualify according to said third party's underwriting requirements.
Post by TigerLuck
If the deal is done right, the broker can be paid back from the third
party loan.
Your original "story" is BULLSHIT, continuing to dig won't get you out of
the hole.
Sure it happened. I personally know someone who was put into a house she could not
afford because a scumbag mortgage broker used her own money to help secure a loan
without regard to whether the borrower could really pay it back. The scumbag
mortgage broker worked the deal so that her money was never at risk. It is the
scumbag mortgage brokers who are the real villains in this mess, using fraudulent
and crooked methods to get people to sign on the dotted line for interest only loans
that they could not possibly pay back the principal on, promising them riches if
they only held onto the house for 6 months to a year.

You know it and I know and now a few other people know it as well.

Thanks for helping get the message out.
--
Sinatra & Sarah do Witchcraft
http://youtu.be/rqs_2CVcWb0

Meet Pastor Muthee -- the man who laid hands on Sarah Palin
http://youtu.be/CsnrIVj9IbM
Reality_Check©
2008-10-04 03:58:00 UTC
Permalink
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
I ran into a painter on the job who said that in his area,
mortgage brokers would deposit $30,000 into the account of a
client for whom they were trying to get a loan. The otherwise
unqualified buyer would have instant good credit. After the loan
was granted, the broker pulled his money out.
Complete BULLSHIT !
Gospel truth, so help me...
Complete BULLSHIT ... not even god can help.
1) Depositing $30,000 doesn't change bad credit into "instant good
credit", in fact it doesn't change your credit score at all.
2) Depositing $30,000 doesn't change anyone's DTI ratios from bad to good
3) Depositing $30,000 *does* raise mortgage underwriter
suspicion, and if being used towards the purchase of the home, would
require a verified source statement as to the exact origin of the
funds, and a sworn statement that the funds were
not borrowed/loaned.
Now take your BULLSHIT back to your "painter" friend and tell him to EAT IT.
And yet, we are faced with the reality that
Depositing $30,000 of unsourced funds doesn't do FUCK ALL
to create "instant good credit".
Post by TigerLuck
mortgage brokers were able to obtain home loans for clients who had
no money to put down,
Because those LOAN PROGRAMS themselves didn't require any $$ down, jackass.
Post by TigerLuck
no income
Because those LOAN PROGRAMS themselves didn't require income.
Post by TigerLuck
and no assets.
BULLSHIT.
The sub-prime mortgage products required THE HOUSE as the
collateralized asset
to secure the loan.
Post by TigerLuck
Some mortgage brokers are exclusively lenders of their own money and
provide a direct source of mortgage funding to clients.
Then they must be Registered and Licensed as direct LENDERS and
comply with myriad rules, laws and regulations governing same.
Post by TigerLuck
This money can be used to secure funds from a third party.
If they qualify according to said third party's underwriting
requirements.
Post by TigerLuck
If the deal is done right, the broker can be paid back from the
third party loan.
Your original "story" is BULLSHIT, continuing to dig won't get you
out of the hole.
Sure it happened.
Complete BULLSHIT.
Post by TigerLuck
I personally know someone who was put into a house
she could not afford because a scumbag mortgage broker used her own
money to help secure a loan without regard to whether the borrower
could really pay it back.
You really have no idea what you're talking about, do you numbnuts?
Post by TigerLuck
The scumbag mortgage broker worked the deal
so that her money was never at risk.
And your friend was *forced* to fill out all those papers,
and *forced* to lie, and *forced* to commit all that fraud,
and *forced* to purchase that house, eh?
Post by TigerLuck
It is the scumbag mortgage
brokers who are the real villains in this mess,
You really have no fucking clue what you're yammering about,
do you jackass?
Post by TigerLuck
using fraudulent and crooked methods to get people to sign on the dotted
line
You mean where the *borrower* signs and declares, under PENALTY of PERJURY
that
that everything contaned in the Mortgage Application/Loan
Documents/Financial Statemets/
HUD Declaration and Purchase Agreement is TRUE and CORRECT ?
Post by TigerLuck
for interest only loans that they could not possibly pay back the
principal on,
I pay back principal on my "interest only" loan(s) all the time.
Post by TigerLuck
promising them riches if they only held onto the house for 6 months
to a year.
So these friends of yours were pig-ignorant imbeciles ... as well as primary
actors in Bank Fraud, Mail Fraud, and various other FELONIES, eh?
Post by TigerLuck
You know it and I know and now a few other people know it as well.
I know your original "story" is complete BULLSHIT.
Post by TigerLuck
Thanks for helping get the message out.
Keep digging, jackass ... eventually you'll come out the other side ...
TigerLuck
2008-10-04 04:08:06 UTC
Permalink
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
I ran into a painter on the job who said that in his area,
mortgage brokers would deposit $30,000 into the account of a
client for whom they were trying to get a loan. The otherwise
unqualified buyer would have instant good credit. After the loan
was granted, the broker pulled his money out.
Complete BULLSHIT !
Gospel truth, so help me...
Complete BULLSHIT ... not even god can help.
1) Depositing $30,000 doesn't change bad credit into "instant good
credit", in fact it doesn't change your credit score at all.
2) Depositing $30,000 doesn't change anyone's DTI ratios from bad to good
3) Depositing $30,000 *does* raise mortgage underwriter
suspicion, and if being used towards the purchase of the home, would
require a verified source statement as to the exact origin of the
funds, and a sworn statement that the funds were
not borrowed/loaned.
Now take your BULLSHIT back to your "painter" friend and tell him to EAT IT.
And yet, we are faced with the reality that
Depositing $30,000 of unsourced funds doesn't do FUCK ALL
to create "instant good credit".
Post by TigerLuck
mortgage brokers were able to obtain home loans for clients who had
no money to put down,
Because those LOAN PROGRAMS themselves didn't require any $$ down, jackass.
Post by TigerLuck
no income
Because those LOAN PROGRAMS themselves didn't require income.
Post by TigerLuck
and no assets.
BULLSHIT.
The sub-prime mortgage products required THE HOUSE as the
collateralized asset
to secure the loan.
Post by TigerLuck
Some mortgage brokers are exclusively lenders of their own money and
provide a direct source of mortgage funding to clients.
Then they must be Registered and Licensed as direct LENDERS and
comply with myriad rules, laws and regulations governing same.
Post by TigerLuck
This money can be used to secure funds from a third party.
If they qualify according to said third party's underwriting
requirements.
Post by TigerLuck
If the deal is done right, the broker can be paid back from the
third party loan.
Your original "story" is BULLSHIT, continuing to dig won't get you
out of the hole.
Sure it happened.
Complete BULLSHIT.
Post by TigerLuck
I personally know someone who was put into a house
she could not afford because a scumbag mortgage broker used her own
money to help secure a loan without regard to whether the borrower
could really pay it back.
You really have no idea what you're talking about, do you numbnuts?
Post by TigerLuck
The scumbag mortgage broker worked the deal
so that her money was never at risk.
And your friend was *forced* to fill out all those papers,
and *forced* to lie, and *forced* to commit all that fraud,
and *forced* to purchase that house, eh?
That's not what I wrote at all. Most people buy a house very very infrequently.
Mortgage brokers are in the business of arranging loans. They work at it every day.
It was mortgage brokers, intent on making a commission who arranged loans that could
not be paid back by the people who were borrowing if home prices ceased rising and
the borrowers had to start paying on the principal. Mortgage brokers *knew* this.
but kept pushing home loans out the door. This is what fueled rising home prices. It
was a massive pyramid scheme that was fueled by mortgage brokers greed for
commission money.
Post by Reality_Check©
Post by TigerLuck
It is the scumbag mortgage
brokers who are the real villains in this mess,
You really have no fucking clue what you're yammering about,
do you jackass?
Post by TigerLuck
using fraudulent and crooked methods to get people to sign on the dotted
line
You mean where the *borrower* signs and declares, under PENALTY of PERJURY
that
that everything contaned in the Mortgage Application/Loan
Documents/Financial Statemets/
HUD Declaration and Purchase Agreement is TRUE and CORRECT ?
Post by TigerLuck
for interest only loans that they could not possibly pay back the
principal on,
I pay back principal on my "interest only" loan(s) all the time.
Post by TigerLuck
promising them riches if they only held onto the house for 6 months
to a year.
So these friends of yours were pig-ignorant imbeciles ... as well as primary
actors in Bank Fraud, Mail Fraud, and various other FELONIES, eh?
Post by TigerLuck
You know it and I know and now a few other people know it as well.
I know your original "story" is complete BULLSHIT.
Post by TigerLuck
Thanks for helping get the message out.
Keep digging, jackass ... eventually you'll come out the other side ...
--
Sinatra & Sarah do Witchcraft
http://youtu.be/rqs_2CVcWb0

Meet Pastor Muthee -- the man who laid hands on Sarah Palin
http://youtu.be/CsnrIVj9IbM
Reality_Check©
2008-10-04 04:23:32 UTC
Permalink
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
I ran into a painter on the job who said that in his area,
mortgage brokers would deposit $30,000 into the account of a
client for whom they were trying to get a loan. The otherwise
unqualified buyer would have instant good credit. After the
loan was granted, the broker pulled his money out.
Complete BULLSHIT !
Gospel truth, so help me...
Complete BULLSHIT ... not even god can help.
1) Depositing $30,000 doesn't change bad credit into "instant
good credit", in fact it doesn't change your credit score at all.
2) Depositing $30,000 doesn't change anyone's DTI ratios from bad to good
3) Depositing $30,000 *does* raise mortgage underwriter
suspicion, and if being used towards the purchase of the home,
would require a verified source statement as to the exact origin
of the funds, and a sworn statement that the funds were
not borrowed/loaned.
Now take your BULLSHIT back to your "painter" friend and tell him to EAT IT.
And yet, we are faced with the reality that
Depositing $30,000 of unsourced funds doesn't do FUCK ALL
to create "instant good credit".
Post by TigerLuck
mortgage brokers were able to obtain home loans for clients who
had no money to put down,
Because those LOAN PROGRAMS themselves didn't require any $$ down, jackass.
Post by TigerLuck
no income
Because those LOAN PROGRAMS themselves didn't require income.
Post by TigerLuck
and no assets.
BULLSHIT.
The sub-prime mortgage products required THE HOUSE as the
collateralized asset
to secure the loan.
Post by TigerLuck
Some mortgage brokers are exclusively lenders of their own money
and provide a direct source of mortgage funding to clients.
Then they must be Registered and Licensed as direct LENDERS and
comply with myriad rules, laws and regulations governing same.
Post by TigerLuck
This money can be used to secure funds from a third party.
If they qualify according to said third party's underwriting requirements.
Post by TigerLuck
If the deal is done right, the broker can be paid back from the
third party loan.
Your original "story" is BULLSHIT, continuing to dig won't get you
out of the hole.
Sure it happened.
Complete BULLSHIT.
Post by TigerLuck
I personally know someone who was put into a house
she could not afford because a scumbag mortgage broker used her own
money to help secure a loan without regard to whether the borrower
could really pay it back.
You really have no idea what you're talking about, do you numbnuts?
Post by TigerLuck
The scumbag mortgage broker worked the deal
so that her money was never at risk.
And your friend was *forced* to fill out all those papers,
and *forced* to lie, and *forced* to commit all that fraud,
and *forced* to purchase that house, eh?
That's not what I wrote at all.
Here's what you wrote, you lying sack of shit:

"I ran into a painter on the job who said that in his area,
mortgage brokers would deposit $30,000 into the account of a
client for whom they were trying to get a loan. The otherwise
unqualified buyer would have instant good credit. After the
loan was granted, the broker pulled his money out."

Which is COMPELTE BULLSHIT !
Post by TigerLuck
Most people buy a house very very infrequently.
As evidenced by your utter pig-ignorance on the subject.
Post by TigerLuck
Mortgage brokers are in the business of arranging
loans.
Really?

Wow. Such a shocking revelation.
Post by TigerLuck
They work at it every day. It was mortgage brokers, intent on
making a commission who arranged loans that could not be paid back by
the people who were borrowing
Why?

Why arrange loans that "could not be paid back" when
there are MILLIONS of borrowers who can and do
pay back their loans, and won't wreck the brokers'
defaulted loan scores with the underwriters?
Post by TigerLuck
if home prices ceased rising and the
borrowers had to start paying on the principal.
So who forced these idiot borrowers to borrow more
than they could afford, eh?
Post by TigerLuck
Mortgage brokers *knew* this. but kept pushing home loans out the door.
You mean that BANKS kept offering those mortgage products, and idiot
greedy corrupt borrowers kept consuming them, eh?

I suppose you blame the U$A's drug problem on Colombia, eh?
Post by TigerLuck
This is what fueled rising home prices. It was a massive pyramid scheme
that was
fueled by mortgage brokers greed for commission money.
No, it was fueled by inbred morons, fools and imbeciles like you who
have no fucking clue, and were willing and eager to commit FRAUD
and other FELONIES so they could have the illusion they weren't the
losers they actually are.

Now tell us again, jackass, how depositing $30,000 gives someone
"instant good credit". Or does that only work for "painters" ?

LOL!
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
It is the scumbag mortgage
brokers who are the real villains in this mess,
You really have no fucking clue what you're yammering about,
do you jackass?
Post by TigerLuck
using fraudulent and crooked methods to get people to sign on the
dotted line
You mean where the *borrower* signs and declares, under PENALTY of
PERJURY that
that everything contaned in the Mortgage Application/Loan
Documents/Financial Statemets/
HUD Declaration and Purchase Agreement is TRUE and CORRECT ?
Post by TigerLuck
for interest only loans that they could not possibly pay back the
principal on,
I pay back principal on my "interest only" loan(s) all the time.
Post by TigerLuck
promising them riches if they only held onto the house for 6 months
to a year.
So these friends of yours were pig-ignorant imbeciles ... as well as
primary actors in Bank Fraud, Mail Fraud, and various other
FELONIES, eh?
Post by TigerLuck
You know it and I know and now a few other people know it as well.
I know your original "story" is complete BULLSHIT.
Post by TigerLuck
Thanks for helping get the message out.
Keep digging, jackass ... eventually you'll come out the other side ...
TigerLuck
2008-10-04 04:34:52 UTC
Permalink
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
I ran into a painter on the job who said that in his area,
mortgage brokers would deposit $30,000 into the account of a
client for whom they were trying to get a loan. The otherwise
unqualified buyer would have instant good credit. After the
loan was granted, the broker pulled his money out.
Complete BULLSHIT !
Gospel truth, so help me...
Complete BULLSHIT ... not even god can help.
1) Depositing $30,000 doesn't change bad credit into "instant
good credit", in fact it doesn't change your credit score at all.
2) Depositing $30,000 doesn't change anyone's DTI ratios from bad to good
3) Depositing $30,000 *does* raise mortgage underwriter
suspicion, and if being used towards the purchase of the home,
would require a verified source statement as to the exact origin
of the funds, and a sworn statement that the funds were
not borrowed/loaned.
Now take your BULLSHIT back to your "painter" friend and tell him to EAT IT.
And yet, we are faced with the reality that
Depositing $30,000 of unsourced funds doesn't do FUCK ALL
to create "instant good credit".
Post by TigerLuck
mortgage brokers were able to obtain home loans for clients who
had no money to put down,
Because those LOAN PROGRAMS themselves didn't require any $$ down, jackass.
Post by TigerLuck
no income
Because those LOAN PROGRAMS themselves didn't require income.
Post by TigerLuck
and no assets.
BULLSHIT.
The sub-prime mortgage products required THE HOUSE as the
collateralized asset
to secure the loan.
Post by TigerLuck
Some mortgage brokers are exclusively lenders of their own money
and provide a direct source of mortgage funding to clients.
Then they must be Registered and Licensed as direct LENDERS and
comply with myriad rules, laws and regulations governing same.
Post by TigerLuck
This money can be used to secure funds from a third party.
If they qualify according to said third party's underwriting requirements.
Post by TigerLuck
If the deal is done right, the broker can be paid back from the
third party loan.
Your original "story" is BULLSHIT, continuing to dig won't get you
out of the hole.
Sure it happened.
Complete BULLSHIT.
Post by TigerLuck
I personally know someone who was put into a house
she could not afford because a scumbag mortgage broker used her own
money to help secure a loan without regard to whether the borrower
could really pay it back.
You really have no idea what you're talking about, do you numbnuts?
Post by TigerLuck
The scumbag mortgage broker worked the deal
so that her money was never at risk.
And your friend was *forced* to fill out all those papers,
and *forced* to lie, and *forced* to commit all that fraud,
and *forced* to purchase that house, eh?
That's not what I wrote at all.
"I ran into a painter on the job who said that in his area,
mortgage brokers would deposit $30,000 into the account of a
client for whom they were trying to get a loan. The otherwise
unqualified buyer would have instant good credit. After the
loan was granted, the broker pulled his money out."
Which says nothing about anyone *forcing* anyone to take out a loan, *jackoff*.

Now go stand in the corner for 15 minutes and think about what a raging DUMBASS you are.

I'm going to assume that rest of your post is just as much a waste of time to read
as what I read so far.

You haven't given me any reason to the the contrary.
Post by Reality_Check©
Which is COMPELTE BULLSHIT !
Post by TigerLuck
Most people buy a house very very infrequently.
As evidenced by your utter pig-ignorance on the subject.
Post by TigerLuck
Mortgage brokers are in the business of arranging
loans.
Really?
Wow. Such a shocking revelation.
Post by TigerLuck
They work at it every day. It was mortgage brokers, intent on
making a commission who arranged loans that could not be paid back by
the people who were borrowing
Why?
Why arrange loans that "could not be paid back" when
there are MILLIONS of borrowers who can and do
pay back their loans, and won't wreck the brokers'
defaulted loan scores with the underwriters?
Post by TigerLuck
if home prices ceased rising and the
borrowers had to start paying on the principal.
So who forced these idiot borrowers to borrow more
than they could afford, eh?
Post by TigerLuck
Mortgage brokers *knew* this. but kept pushing home loans out the door.
You mean that BANKS kept offering those mortgage products, and idiot
greedy corrupt borrowers kept consuming them, eh?
I suppose you blame the U$A's drug problem on Colombia, eh?
Post by TigerLuck
This is what fueled rising home prices. It was a massive pyramid scheme
that was
fueled by mortgage brokers greed for commission money.
No, it was fueled by inbred morons, fools and imbeciles like you who
have no fucking clue, and were willing and eager to commit FRAUD
and other FELONIES so they could have the illusion they weren't the
losers they actually are.
Now tell us again, jackass, how depositing $30,000 gives someone
"instant good credit". Or does that only work for "painters" ?
LOL!
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
It is the scumbag mortgage
brokers who are the real villains in this mess,
You really have no fucking clue what you're yammering about,
do you jackass?
Post by TigerLuck
using fraudulent and crooked methods to get people to sign on the
dotted line
You mean where the *borrower* signs and declares, under PENALTY of
PERJURY that
that everything contaned in the Mortgage Application/Loan
Documents/Financial Statemets/
HUD Declaration and Purchase Agreement is TRUE and CORRECT ?
Post by TigerLuck
for interest only loans that they could not possibly pay back the
principal on,
I pay back principal on my "interest only" loan(s) all the time.
Post by TigerLuck
promising them riches if they only held onto the house for 6 months
to a year.
So these friends of yours were pig-ignorant imbeciles ... as well as
primary actors in Bank Fraud, Mail Fraud, and various other
FELONIES, eh?
Post by TigerLuck
You know it and I know and now a few other people know it as well.
I know your original "story" is complete BULLSHIT.
Post by TigerLuck
Thanks for helping get the message out.
Keep digging, jackass ... eventually you'll come out the other side ...
--
Sinatra & Sarah do Witchcraft
http://youtu.be/rqs_2CVcWb0

Meet Pastor Muthee -- the man who laid hands on Sarah Palin
http://youtu.be/CsnrIVj9IbM
Reality_Check©
2008-10-04 04:46:55 UTC
Permalink
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
I ran into a painter on the job who said that in his area,
mortgage brokers would deposit $30,000 into the account of a
client for whom they were trying to get a loan. The
otherwise unqualified buyer would have instant good credit.
After the loan was granted, the broker pulled his money out.
Complete BULLSHIT !
Gospel truth, so help me...
Complete BULLSHIT ... not even god can help.
1) Depositing $30,000 doesn't change bad credit into "instant
good credit", in fact it doesn't change your credit score at
all. 2) Depositing $30,000 doesn't change anyone's DTI ratios from
bad to good
3) Depositing $30,000 *does* raise mortgage underwriter
suspicion, and if being used towards the purchase of the home,
would require a verified source statement as to the exact
origin of the funds, and a sworn statement that the funds were
not borrowed/loaned.
Now take your BULLSHIT back to your "painter" friend and tell him to EAT IT.
And yet, we are faced with the reality that
Depositing $30,000 of unsourced funds doesn't do FUCK ALL
to create "instant good credit".
Post by TigerLuck
mortgage brokers were able to obtain home loans for clients who
had no money to put down,
Because those LOAN PROGRAMS themselves didn't require any $$ down, jackass.
Post by TigerLuck
no income
Because those LOAN PROGRAMS themselves didn't require income.
Post by TigerLuck
and no assets.
BULLSHIT.
The sub-prime mortgage products required THE HOUSE as the
collateralized asset
to secure the loan.
Post by TigerLuck
Some mortgage brokers are exclusively lenders of their own money
and provide a direct source of mortgage funding to clients.
Then they must be Registered and Licensed as direct LENDERS and
comply with myriad rules, laws and regulations governing same.
Post by TigerLuck
This money can be used to secure funds from a third party.
If they qualify according to said third party's underwriting requirements.
Post by TigerLuck
If the deal is done right, the broker can be paid back from the
third party loan.
Your original "story" is BULLSHIT, continuing to dig won't get
you out of the hole.
Sure it happened.
Complete BULLSHIT.
Post by TigerLuck
I personally know someone who was put into a house
she could not afford because a scumbag mortgage broker used her
own money to help secure a loan without regard to whether the
borrower could really pay it back.
You really have no idea what you're talking about, do you numbnuts?
Post by TigerLuck
The scumbag mortgage broker worked the deal
so that her money was never at risk.
And your friend was *forced* to fill out all those papers,
and *forced* to lie, and *forced* to commit all that fraud,
and *forced* to purchase that house, eh?
That's not what I wrote at all.
"I ran into a painter on the job who said that in his area,
mortgage brokers would deposit $30,000 into the account of a
client for whom they were trying to get a loan. The otherwise
unqualified buyer would have instant good credit. After the
loan was granted, the broker pulled his money out."
Which says nothing about anyone *forcing* anyone to take out a loan, *jackoff*.
So your "painter" *willingly* commited Bank Fraud and other Felonies, eh
jackass?
Post by TigerLuck
Now go stand in the corner for 15 minutes and think about what a raging DUMBASS you are.
This from the ignoramus who claims that depositing $30,000 gives
someone "instant good credit".
Post by TigerLuck
I'm going to assume that rest of your post is just as much a waste of
time to read as what I read so far.
It's your ignorant assumptions that cause you to post such absurdly
false bullshit.
Post by TigerLuck
Post by Reality_Check©
Which is COMPELTE BULLSHIT !
Post by TigerLuck
Most people buy a house very very infrequently.
As evidenced by your utter pig-ignorance on the subject.
Post by TigerLuck
Mortgage brokers are in the business of arranging
loans.
Really?
Wow. Such a shocking revelation.
Post by TigerLuck
They work at it every day. It was mortgage brokers, intent on
making a commission who arranged loans that could not be paid back
by the people who were borrowing
Why?
Why arrange loans that "could not be paid back" when
there are MILLIONS of borrowers who can and do
pay back their loans, and won't wreck the brokers'
defaulted loan scores with the underwriters?
Post by TigerLuck
if home prices ceased rising and the
borrowers had to start paying on the principal.
So who forced these idiot borrowers to borrow more
than they could afford, eh?
Post by TigerLuck
Mortgage brokers *knew* this. but kept pushing home loans out the door.
You mean that BANKS kept offering those mortgage products, and idiot
greedy corrupt borrowers kept consuming them, eh?
I suppose you blame the U$A's drug problem on Colombia, eh?
Post by TigerLuck
This is what fueled rising home prices. It was a massive pyramid
scheme that was
fueled by mortgage brokers greed for commission money.
No, it was fueled by inbred morons, fools and imbeciles like you who
have no fucking clue, and were willing and eager to commit FRAUD
and other FELONIES so they could have the illusion they weren't the
losers they actually are.
Now tell us again, jackass, how depositing $30,000 gives someone
"instant good credit". Or does that only work for "painters" ?
LOL!
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
It is the scumbag mortgage
brokers who are the real villains in this mess,
You really have no fucking clue what you're yammering about,
do you jackass?
Post by TigerLuck
using fraudulent and crooked methods to get people to sign on the
dotted line
You mean where the *borrower* signs and declares, under PENALTY of
PERJURY that
that everything contaned in the Mortgage Application/Loan
Documents/Financial Statemets/
HUD Declaration and Purchase Agreement is TRUE and CORRECT ?
Post by TigerLuck
for interest only loans that they could not possibly pay back the
principal on,
I pay back principal on my "interest only" loan(s) all the time.
Post by TigerLuck
promising them riches if they only held onto the house for 6
months to a year.
So these friends of yours were pig-ignorant imbeciles ... as well
as primary actors in Bank Fraud, Mail Fraud, and various other
FELONIES, eh?
Post by TigerLuck
You know it and I know and now a few other people know it as well.
I know your original "story" is complete BULLSHIT.
Post by TigerLuck
Thanks for helping get the message out.
Keep digging, jackass ... eventually you'll come out the other side ...
TigerLuck
2008-10-04 04:58:52 UTC
Permalink
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
I ran into a painter on the job who said that in his area,
mortgage brokers would deposit $30,000 into the account of a
client for whom they were trying to get a loan. The
otherwise unqualified buyer would have instant good credit.
After the loan was granted, the broker pulled his money out.
Complete BULLSHIT !
Gospel truth, so help me...
Complete BULLSHIT ... not even god can help.
1) Depositing $30,000 doesn't change bad credit into "instant
good credit", in fact it doesn't change your credit score at
all. 2) Depositing $30,000 doesn't change anyone's DTI ratios from
bad to good
3) Depositing $30,000 *does* raise mortgage underwriter
suspicion, and if being used towards the purchase of the home,
would require a verified source statement as to the exact
origin of the funds, and a sworn statement that the funds were
not borrowed/loaned.
Now take your BULLSHIT back to your "painter" friend and tell
him to EAT IT.
And yet, we are faced with the reality that
Depositing $30,000 of unsourced funds doesn't do FUCK ALL
to create "instant good credit".
Post by TigerLuck
mortgage brokers were able to obtain home loans for clients who
had no money to put down,
Because those LOAN PROGRAMS themselves didn't require any $$ down, jackass.
Post by TigerLuck
no income
Because those LOAN PROGRAMS themselves didn't require income.
Post by TigerLuck
and no assets.
BULLSHIT.
The sub-prime mortgage products required THE HOUSE as the
collateralized asset
to secure the loan.
Post by TigerLuck
Some mortgage brokers are exclusively lenders of their own money
and provide a direct source of mortgage funding to clients.
Then they must be Registered and Licensed as direct LENDERS and
comply with myriad rules, laws and regulations governing same.
Post by TigerLuck
This money can be used to secure funds from a third party.
If they qualify according to said third party's underwriting requirements.
Post by TigerLuck
If the deal is done right, the broker can be paid back from the
third party loan.
Your original "story" is BULLSHIT, continuing to dig won't get
you out of the hole.
Sure it happened.
Complete BULLSHIT.
Post by TigerLuck
I personally know someone who was put into a house
she could not afford because a scumbag mortgage broker used her
own money to help secure a loan without regard to whether the
borrower could really pay it back.
You really have no idea what you're talking about, do you numbnuts?
Post by TigerLuck
The scumbag mortgage broker worked the deal
so that her money was never at risk.
And your friend was *forced* to fill out all those papers,
and *forced* to lie, and *forced* to commit all that fraud,
and *forced* to purchase that house, eh?
That's not what I wrote at all.
"I ran into a painter on the job who said that in his area,
mortgage brokers would deposit $30,000 into the account of a
client for whom they were trying to get a loan. The otherwise
unqualified buyer would have instant good credit. After the
loan was granted, the broker pulled his money out."
Which says nothing about anyone *forcing* anyone to take out a loan, *jackoff*.
So your "painter" *willingly* commited Bank Fraud and other Felonies, eh
jackass?
Nothing that I wrote even comes close to suggesting that.

That you managed to read that into what I wrote pretty much
drives home that you are an imbecile who couldn't tell his right
from his left with an instruction manual with lot's of pictures in in it.
Post by Reality_Check©
Post by TigerLuck
Now go stand in the corner for 15 minutes and think about what a raging DUMBASS you are.
This from the ignoramus who claims that depositing $30,000 gives
someone "instant good credit".
Post by TigerLuck
I'm going to assume that rest of your post is just as much a waste of
time to read as what I read so far.
It's your ignorant assumptions that cause you to post such absurdly
false bullshit.
Post by TigerLuck
Post by Reality_Check©
Which is COMPELTE BULLSHIT !
Post by TigerLuck
Most people buy a house very very infrequently.
As evidenced by your utter pig-ignorance on the subject.
Post by TigerLuck
Mortgage brokers are in the business of arranging
loans.
Really?
Wow. Such a shocking revelation.
Post by TigerLuck
They work at it every day. It was mortgage brokers, intent on
making a commission who arranged loans that could not be paid back
by the people who were borrowing
Why?
Why arrange loans that "could not be paid back" when
there are MILLIONS of borrowers who can and do
pay back their loans, and won't wreck the brokers'
defaulted loan scores with the underwriters?
Post by TigerLuck
if home prices ceased rising and the
borrowers had to start paying on the principal.
So who forced these idiot borrowers to borrow more
than they could afford, eh?
Post by TigerLuck
Mortgage brokers *knew* this. but kept pushing home loans out the door.
You mean that BANKS kept offering those mortgage products, and idiot
greedy corrupt borrowers kept consuming them, eh?
I suppose you blame the U$A's drug problem on Colombia, eh?
Post by TigerLuck
This is what fueled rising home prices. It was a massive pyramid
scheme that was
fueled by mortgage brokers greed for commission money.
No, it was fueled by inbred morons, fools and imbeciles like you who
have no fucking clue, and were willing and eager to commit FRAUD
and other FELONIES so they could have the illusion they weren't the
losers they actually are.
Now tell us again, jackass, how depositing $30,000 gives someone
"instant good credit". Or does that only work for "painters" ?
LOL!
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
It is the scumbag mortgage
brokers who are the real villains in this mess,
You really have no fucking clue what you're yammering about,
do you jackass?
Post by TigerLuck
using fraudulent and crooked methods to get people to sign on the
dotted line
You mean where the *borrower* signs and declares, under PENALTY of
PERJURY that
that everything contaned in the Mortgage Application/Loan
Documents/Financial Statemets/
HUD Declaration and Purchase Agreement is TRUE and CORRECT ?
Post by TigerLuck
for interest only loans that they could not possibly pay back the
principal on,
I pay back principal on my "interest only" loan(s) all the time.
Post by TigerLuck
promising them riches if they only held onto the house for 6
months to a year.
So these friends of yours were pig-ignorant imbeciles ... as well
as primary actors in Bank Fraud, Mail Fraud, and various other
FELONIES, eh?
Post by TigerLuck
You know it and I know and now a few other people know it as well.
I know your original "story" is complete BULLSHIT.
Post by TigerLuck
Thanks for helping get the message out.
Keep digging, jackass ... eventually you'll come out the other side ...
--
Sinatra & Sarah do Witchcraft
http://youtu.be/rqs_2CVcWb0

Meet Pastor Muthee -- the man who laid hands on Sarah Palin
http://youtu.be/CsnrIVj9IbM
Reality_Check©
2008-10-04 05:02:55 UTC
Permalink
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
I ran into a painter on the job who said that in his area,
mortgage brokers would deposit $30,000 into the account
of a client for whom they were trying to get a loan. The
otherwise unqualified buyer would have instant good
credit. After the loan was granted, the broker pulled his
money out.
Complete BULLSHIT !
Gospel truth, so help me...
Complete BULLSHIT ... not even god can help.
1) Depositing $30,000 doesn't change bad credit into "instant
good credit", in fact it doesn't change your credit score at
all. 2) Depositing $30,000 doesn't change anyone's DTI
ratios from bad to good
3) Depositing $30,000 *does* raise mortgage underwriter
suspicion, and if being used towards the purchase of the
home, would require a verified source statement as to the
exact origin of the funds, and a sworn statement that the funds
were not borrowed/loaned.
Now take your BULLSHIT back to your "painter" friend and tell
him to EAT IT.
And yet, we are faced with the reality that
Depositing $30,000 of unsourced funds doesn't do FUCK ALL
to create "instant good credit".
Post by TigerLuck
mortgage brokers were able to obtain home loans for clients
who had no money to put down,
Because those LOAN PROGRAMS themselves didn't require any $$ down, jackass.
Post by TigerLuck
no income
Because those LOAN PROGRAMS themselves didn't require income.
Post by TigerLuck
and no assets.
BULLSHIT.
The sub-prime mortgage products required THE HOUSE as the
collateralized asset
to secure the loan.
Post by TigerLuck
Some mortgage brokers are exclusively lenders of their own
money and provide a direct source of mortgage funding to
clients.
Then they must be Registered and Licensed as direct LENDERS and
comply with myriad rules, laws and regulations governing same.
Post by TigerLuck
This money can be used to secure funds from a third party.
If they qualify according to said third party's underwriting requirements.
Post by TigerLuck
If the deal is done right, the broker can be paid back from
the third party loan.
Your original "story" is BULLSHIT, continuing to dig won't get
you out of the hole.
Sure it happened.
Complete BULLSHIT.
Post by TigerLuck
I personally know someone who was put into a house
she could not afford because a scumbag mortgage broker used her
own money to help secure a loan without regard to whether the
borrower could really pay it back.
You really have no idea what you're talking about, do you
numbnuts?
Post by TigerLuck
The scumbag mortgage broker worked the deal
so that her money was never at risk.
And your friend was *forced* to fill out all those papers,
and *forced* to lie, and *forced* to commit all that fraud,
and *forced* to purchase that house, eh?
That's not what I wrote at all.
"I ran into a painter on the job who said that in his area,
mortgage brokers would deposit $30,000 into the account of a
client for whom they were trying to get a loan. The otherwise
unqualified buyer would have instant good credit. After the
loan was granted, the broker pulled his money out."
Which says nothing about anyone *forcing* anyone to take out a loan, *jackoff*.
So your "painter" *willingly* commited Bank Fraud and other
Felonies, eh jackass?
Nothing that I wrote even comes close to suggesting that.
Yes, it does. You're just too pig-ignorant to know.
Post by TigerLuck
That you managed to read that into what I wrote pretty much
drives home that you are an imbecile who couldn't tell his right
from his left with an instruction manual with lot's of pictures in in it.
Tell us again how depositing $30,000 gives someone "instant good credit".

Go ahead, liar.
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Now go stand in the corner for 15 minutes and think about what a
raging DUMBASS you are.
This from the ignoramus who claims that depositing $30,000 gives
someone "instant good credit".
Post by TigerLuck
I'm going to assume that rest of your post is just as much a waste
of time to read as what I read so far.
It's your ignorant assumptions that cause you to post such absurdly
false bullshit.
Post by TigerLuck
Post by Reality_Check©
Which is COMPELTE BULLSHIT !
Post by TigerLuck
Most people buy a house very very infrequently.
As evidenced by your utter pig-ignorance on the subject.
Post by TigerLuck
Mortgage brokers are in the business of arranging
loans.
Really?
Wow. Such a shocking revelation.
Post by TigerLuck
They work at it every day. It was mortgage brokers, intent on
making a commission who arranged loans that could not be paid back
by the people who were borrowing
Why?
Why arrange loans that "could not be paid back" when
there are MILLIONS of borrowers who can and do
pay back their loans, and won't wreck the brokers'
defaulted loan scores with the underwriters?
Post by TigerLuck
if home prices ceased rising and the
borrowers had to start paying on the principal.
So who forced these idiot borrowers to borrow more
than they could afford, eh?
Post by TigerLuck
Mortgage brokers *knew* this. but kept pushing home loans out the door.
You mean that BANKS kept offering those mortgage products, and
idiot greedy corrupt borrowers kept consuming them, eh?
I suppose you blame the U$A's drug problem on Colombia, eh?
Post by TigerLuck
This is what fueled rising home prices. It was a massive pyramid
scheme that was
fueled by mortgage brokers greed for commission money.
No, it was fueled by inbred morons, fools and imbeciles like you
who have no fucking clue, and were willing and eager to commit
FRAUD and other FELONIES so they could have the illusion they
weren't the losers they actually are.
Now tell us again, jackass, how depositing $30,000 gives someone
"instant good credit". Or does that only work for "painters" ?
LOL!
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
It is the scumbag mortgage
brokers who are the real villains in this mess,
You really have no fucking clue what you're yammering about,
do you jackass?
Post by TigerLuck
using fraudulent and crooked methods to get people to sign on
the dotted line
You mean where the *borrower* signs and declares, under PENALTY
of PERJURY that
that everything contaned in the Mortgage Application/Loan
Documents/Financial Statemets/
HUD Declaration and Purchase Agreement is TRUE and CORRECT ?
Post by TigerLuck
for interest only loans that they could not possibly pay back
the principal on,
I pay back principal on my "interest only" loan(s) all the time.
Post by TigerLuck
promising them riches if they only held onto the house for 6
months to a year.
So these friends of yours were pig-ignorant imbeciles ... as well
as primary actors in Bank Fraud, Mail Fraud, and various other
FELONIES, eh?
Post by TigerLuck
You know it and I know and now a few other people know it as well.
I know your original "story" is complete BULLSHIT.
Post by TigerLuck
Thanks for helping get the message out.
Keep digging, jackass ... eventually you'll come out the other side ...
TigerLuck
2008-10-04 05:07:54 UTC
Permalink
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
I ran into a painter on the job who said that in his area,
mortgage brokers would deposit $30,000 into the account
of a client for whom they were trying to get a loan. The
otherwise unqualified buyer would have instant good
credit. After the loan was granted, the broker pulled his
money out.
Complete BULLSHIT !
Gospel truth, so help me...
Complete BULLSHIT ... not even god can help.
1) Depositing $30,000 doesn't change bad credit into "instant
good credit", in fact it doesn't change your credit score at
all. 2) Depositing $30,000 doesn't change anyone's DTI
ratios from bad to good
3) Depositing $30,000 *does* raise mortgage underwriter
suspicion, and if being used towards the purchase of the
home, would require a verified source statement as to the
exact origin of the funds, and a sworn statement that the funds
were not borrowed/loaned.
Now take your BULLSHIT back to your "painter" friend and tell
him to EAT IT.
And yet, we are faced with the reality that
Depositing $30,000 of unsourced funds doesn't do FUCK ALL
to create "instant good credit".
Post by TigerLuck
mortgage brokers were able to obtain home loans for clients
who had no money to put down,
Because those LOAN PROGRAMS themselves didn't require any $$ down, jackass.
Post by TigerLuck
no income
Because those LOAN PROGRAMS themselves didn't require income.
Post by TigerLuck
and no assets.
BULLSHIT.
The sub-prime mortgage products required THE HOUSE as the
collateralized asset
to secure the loan.
Post by TigerLuck
Some mortgage brokers are exclusively lenders of their own
money and provide a direct source of mortgage funding to
clients.
Then they must be Registered and Licensed as direct LENDERS and
comply with myriad rules, laws and regulations governing same.
Post by TigerLuck
This money can be used to secure funds from a third party.
If they qualify according to said third party's underwriting requirements.
Post by TigerLuck
If the deal is done right, the broker can be paid back from
the third party loan.
Your original "story" is BULLSHIT, continuing to dig won't get
you out of the hole.
Sure it happened.
Complete BULLSHIT.
Post by TigerLuck
I personally know someone who was put into a house
she could not afford because a scumbag mortgage broker used her
own money to help secure a loan without regard to whether the
borrower could really pay it back.
You really have no idea what you're talking about, do you numbnuts?
Post by TigerLuck
The scumbag mortgage broker worked the deal
so that her money was never at risk.
And your friend was *forced* to fill out all those papers,
and *forced* to lie, and *forced* to commit all that fraud,
and *forced* to purchase that house, eh?
That's not what I wrote at all.
"I ran into a painter on the job who said that in his area,
mortgage brokers would deposit $30,000 into the account of a
client for whom they were trying to get a loan. The otherwise
unqualified buyer would have instant good credit. After the
loan was granted, the broker pulled his money out."
Which says nothing about anyone *forcing* anyone to take out a loan, *jackoff*.
So your "painter" *willingly* commited Bank Fraud and other
Felonies, eh jackass?
Nothing that I wrote even comes close to suggesting that.
Yes, it does. You're just too pig-ignorant to know.
Then perhaps you could point out how?

(psst... this is where you get huffy and post something about doing
one's own homework)
Post by Reality_Check©
Post by TigerLuck
That you managed to read that into what I wrote pretty much
drives home that you are an imbecile who couldn't tell his right
from his left with an instruction manual with lot's of pictures in in it.
Tell us again how depositing $30,000 gives someone "instant good credit".
Go ahead, liar.
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Now go stand in the corner for 15 minutes and think about what a
raging DUMBASS you are.
This from the ignoramus who claims that depositing $30,000 gives
someone "instant good credit".
Post by TigerLuck
I'm going to assume that rest of your post is just as much a waste
of time to read as what I read so far.
It's your ignorant assumptions that cause you to post such absurdly
false bullshit.
Post by TigerLuck
Post by Reality_Check©
Which is COMPELTE BULLSHIT !
Post by TigerLuck
Most people buy a house very very infrequently.
As evidenced by your utter pig-ignorance on the subject.
Post by TigerLuck
Mortgage brokers are in the business of arranging
loans.
Really?
Wow. Such a shocking revelation.
Post by TigerLuck
They work at it every day. It was mortgage brokers, intent on
making a commission who arranged loans that could not be paid back
by the people who were borrowing
Why?
Why arrange loans that "could not be paid back" when
there are MILLIONS of borrowers who can and do
pay back their loans, and won't wreck the brokers'
defaulted loan scores with the underwriters?
Post by TigerLuck
if home prices ceased rising and the
borrowers had to start paying on the principal.
So who forced these idiot borrowers to borrow more
than they could afford, eh?
Post by TigerLuck
Mortgage brokers *knew* this. but kept pushing home loans out the door.
You mean that BANKS kept offering those mortgage products, and
idiot greedy corrupt borrowers kept consuming them, eh?
I suppose you blame the U$A's drug problem on Colombia, eh?
Post by TigerLuck
This is what fueled rising home prices. It was a massive pyramid
scheme that was
fueled by mortgage brokers greed for commission money.
No, it was fueled by inbred morons, fools and imbeciles like you
who have no fucking clue, and were willing and eager to commit
FRAUD and other FELONIES so they could have the illusion they
weren't the losers they actually are.
Now tell us again, jackass, how depositing $30,000 gives someone
"instant good credit". Or does that only work for "painters" ?
LOL!
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
It is the scumbag mortgage
brokers who are the real villains in this mess,
You really have no fucking clue what you're yammering about,
do you jackass?
Post by TigerLuck
using fraudulent and crooked methods to get people to sign on
the dotted line
You mean where the *borrower* signs and declares, under PENALTY
of PERJURY that
that everything contaned in the Mortgage Application/Loan
Documents/Financial Statemets/
HUD Declaration and Purchase Agreement is TRUE and CORRECT ?
Post by TigerLuck
for interest only loans that they could not possibly pay back
the principal on,
I pay back principal on my "interest only" loan(s) all the time.
Post by TigerLuck
promising them riches if they only held onto the house for 6
months to a year.
So these friends of yours were pig-ignorant imbeciles ... as well
as primary actors in Bank Fraud, Mail Fraud, and various other
FELONIES, eh?
Post by TigerLuck
You know it and I know and now a few other people know it as well.
I know your original "story" is complete BULLSHIT.
Post by TigerLuck
Thanks for helping get the message out.
Keep digging, jackass ... eventually you'll come out the other side ...
--
Sinatra & Sarah do Witchcraft
http://youtu.be/rqs_2CVcWb0

Meet Pastor Muthee -- the man who laid hands on Sarah Palin
http://youtu.be/CsnrIVj9IbM
Reality_Check©
2008-10-04 05:11:09 UTC
Permalink
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
I ran into a painter on the job who said that in his
area, mortgage brokers would deposit $30,000 into the
account of a client for whom they were trying to get a
loan. The otherwise unqualified buyer would have
instant good credit. After the loan was granted, the
broker pulled his money out.
Complete BULLSHIT !
Gospel truth, so help me...
Complete BULLSHIT ... not even god can help.
1) Depositing $30,000 doesn't change bad credit into
"instant good credit", in fact it doesn't change your
credit score at all. 2) Depositing $30,000 doesn't change
anyone's DTI
ratios from bad to good
3) Depositing $30,000 *does* raise mortgage underwriter
suspicion, and if being used towards the purchase of the
home, would require a verified source statement as to the
exact origin of the funds, and a sworn statement that the
funds were not borrowed/loaned.
Now take your BULLSHIT back to your "painter" friend and
tell him to EAT IT.
And yet, we are faced with the reality that
Depositing $30,000 of unsourced funds doesn't do FUCK ALL
to create "instant good credit".
Post by TigerLuck
mortgage brokers were able to obtain home loans for clients
who had no money to put down,
Because those LOAN PROGRAMS themselves didn't require any $$
down, jackass.
Post by TigerLuck
no income
Because those LOAN PROGRAMS themselves didn't require income.
Post by TigerLuck
and no assets.
BULLSHIT.
The sub-prime mortgage products required THE HOUSE as the
collateralized asset
to secure the loan.
Post by TigerLuck
Some mortgage brokers are exclusively lenders of their own
money and provide a direct source of mortgage funding to
clients.
Then they must be Registered and Licensed as direct LENDERS
and comply with myriad rules, laws and regulations governing
same.
Post by TigerLuck
This money can be used to secure funds from a third party.
If they qualify according to said third party's underwriting
requirements.
Post by TigerLuck
If the deal is done right, the broker can be paid back from
the third party loan.
Your original "story" is BULLSHIT, continuing to dig won't
get you out of the hole.
Sure it happened.
Complete BULLSHIT.
Post by TigerLuck
I personally know someone who was put into a house
she could not afford because a scumbag mortgage broker used
her own money to help secure a loan without regard to whether
the borrower could really pay it back.
You really have no idea what you're talking about, do you numbnuts?
Post by TigerLuck
The scumbag mortgage broker worked the deal
so that her money was never at risk.
And your friend was *forced* to fill out all those papers,
and *forced* to lie, and *forced* to commit all that fraud,
and *forced* to purchase that house, eh?
That's not what I wrote at all.
"I ran into a painter on the job who said that in his area,
mortgage brokers would deposit $30,000 into the account of a
client for whom they were trying to get a loan. The otherwise
unqualified buyer would have instant good credit. After the
loan was granted, the broker pulled his money out."
Which says nothing about anyone *forcing* anyone to take out a loan, *jackoff*.
So your "painter" *willingly* commited Bank Fraud and other
Felonies, eh jackass?
Nothing that I wrote even comes close to suggesting that.
Yes, it does. You're just too pig-ignorant to know.
Then perhaps you could point out how?
Wallow in it, moron.
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
That you managed to read that into what I wrote pretty much
drives home that you are an imbecile who couldn't tell his right
from his left with an instruction manual with lot's of pictures in in it.
Tell us again how depositing $30,000 gives someone "instant good credit".
Go ahead, liar.
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Now go stand in the corner for 15 minutes and think about what a
raging DUMBASS you are.
This from the ignoramus who claims that depositing $30,000 gives
someone "instant good credit".
Post by TigerLuck
I'm going to assume that rest of your post is just as much a waste
of time to read as what I read so far.
It's your ignorant assumptions that cause you to post such absurdly
false bullshit.
Post by TigerLuck
Post by Reality_Check©
Which is COMPELTE BULLSHIT !
Post by TigerLuck
Most people buy a house very very infrequently.
As evidenced by your utter pig-ignorance on the subject.
Post by TigerLuck
Mortgage brokers are in the business of arranging
loans.
Really?
Wow. Such a shocking revelation.
Post by TigerLuck
They work at it every day. It was mortgage brokers, intent on
making a commission who arranged loans that could not be paid
back by the people who were borrowing
Why?
Why arrange loans that "could not be paid back" when
there are MILLIONS of borrowers who can and do
pay back their loans, and won't wreck the brokers'
defaulted loan scores with the underwriters?
Post by TigerLuck
if home prices ceased rising and the
borrowers had to start paying on the principal.
So who forced these idiot borrowers to borrow more
than they could afford, eh?
Post by TigerLuck
Mortgage brokers *knew* this. but kept pushing home loans out the door.
You mean that BANKS kept offering those mortgage products, and
idiot greedy corrupt borrowers kept consuming them, eh?
I suppose you blame the U$A's drug problem on Colombia, eh?
Post by TigerLuck
This is what fueled rising home prices. It was a massive pyramid
scheme that was
fueled by mortgage brokers greed for commission money.
No, it was fueled by inbred morons, fools and imbeciles like you
who have no fucking clue, and were willing and eager to commit
FRAUD and other FELONIES so they could have the illusion they
weren't the losers they actually are.
Now tell us again, jackass, how depositing $30,000 gives someone
"instant good credit". Or does that only work for "painters" ?
LOL!
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
It is the scumbag mortgage
brokers who are the real villains in this mess,
You really have no fucking clue what you're yammering about,
do you jackass?
Post by TigerLuck
using fraudulent and crooked methods to get people to sign on
the dotted line
You mean where the *borrower* signs and declares, under PENALTY
of PERJURY that
that everything contaned in the Mortgage Application/Loan
Documents/Financial Statemets/
HUD Declaration and Purchase Agreement is TRUE and CORRECT ?
Post by TigerLuck
for interest only loans that they could not possibly pay back
the principal on,
I pay back principal on my "interest only" loan(s) all the time.
Post by TigerLuck
promising them riches if they only held onto the house for 6
months to a year.
So these friends of yours were pig-ignorant imbeciles ... as
well as primary actors in Bank Fraud, Mail Fraud, and various
other FELONIES, eh?
Post by TigerLuck
You know it and I know and now a few other people know it as well.
I know your original "story" is complete BULLSHIT.
Post by TigerLuck
Thanks for helping get the message out.
Keep digging, jackass ... eventually you'll come out the other side ...
TigerLuck
2008-10-04 05:14:22 UTC
Permalink
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
I ran into a painter on the job who said that in his
area, mortgage brokers would deposit $30,000 into the
account of a client for whom they were trying to get a
loan. The otherwise unqualified buyer would have
instant good credit. After the loan was granted, the
broker pulled his money out.
Complete BULLSHIT !
Gospel truth, so help me...
Complete BULLSHIT ... not even god can help.
1) Depositing $30,000 doesn't change bad credit into
"instant good credit", in fact it doesn't change your
credit score at all. 2) Depositing $30,000 doesn't change
anyone's DTI
ratios from bad to good
3) Depositing $30,000 *does* raise mortgage underwriter
suspicion, and if being used towards the purchase of the
home, would require a verified source statement as to the
exact origin of the funds, and a sworn statement that the
funds were not borrowed/loaned.
Now take your BULLSHIT back to your "painter" friend and
tell him to EAT IT.
And yet, we are faced with the reality that
Depositing $30,000 of unsourced funds doesn't do FUCK ALL
to create "instant good credit".
Post by TigerLuck
mortgage brokers were able to obtain home loans for clients
who had no money to put down,
Because those LOAN PROGRAMS themselves didn't require any $$
down, jackass.
Post by TigerLuck
no income
Because those LOAN PROGRAMS themselves didn't require income.
Post by TigerLuck
and no assets.
BULLSHIT.
The sub-prime mortgage products required THE HOUSE as the
collateralized asset
to secure the loan.
Post by TigerLuck
Some mortgage brokers are exclusively lenders of their own
money and provide a direct source of mortgage funding to
clients.
Then they must be Registered and Licensed as direct LENDERS
and comply with myriad rules, laws and regulations governing
same.
Post by TigerLuck
This money can be used to secure funds from a third party.
If they qualify according to said third party's underwriting
requirements.
Post by TigerLuck
If the deal is done right, the broker can be paid back from
the third party loan.
Your original "story" is BULLSHIT, continuing to dig won't
get you out of the hole.
Sure it happened.
Complete BULLSHIT.
Post by TigerLuck
I personally know someone who was put into a house
she could not afford because a scumbag mortgage broker used
her own money to help secure a loan without regard to whether
the borrower could really pay it back.
You really have no idea what you're talking about, do you numbnuts?
Post by TigerLuck
The scumbag mortgage broker worked the deal
so that her money was never at risk.
And your friend was *forced* to fill out all those papers,
and *forced* to lie, and *forced* to commit all that fraud,
and *forced* to purchase that house, eh?
That's not what I wrote at all.
"I ran into a painter on the job who said that in his area,
mortgage brokers would deposit $30,000 into the account of a
client for whom they were trying to get a loan. The otherwise
unqualified buyer would have instant good credit. After the
loan was granted, the broker pulled his money out."
Which says nothing about anyone *forcing* anyone to take out a loan, *jackoff*.
So your "painter" *willingly* commited Bank Fraud and other
Felonies, eh jackass?
Nothing that I wrote even comes close to suggesting that.
Yes, it does. You're just too pig-ignorant to know.
Then perhaps you could point out how?
Wallow in it, moron.
I see you snipped the part about here is where you get huffy.

I'm not wallowing in anything.

You seem to be the one who is all hot and bothered.

You wouldn't happen to be a scumbag mortgage broker who can't make a
buck in today's market, would you?

That would explain your sour disposition.
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
That you managed to read that into what I wrote pretty much
drives home that you are an imbecile who couldn't tell his right
from his left with an instruction manual with lot's of pictures in in it.
Tell us again how depositing $30,000 gives someone "instant good credit".
Go ahead, liar.
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Now go stand in the corner for 15 minutes and think about what a
raging DUMBASS you are.
This from the ignoramus who claims that depositing $30,000 gives
someone "instant good credit".
Post by TigerLuck
I'm going to assume that rest of your post is just as much a waste
of time to read as what I read so far.
It's your ignorant assumptions that cause you to post such absurdly
false bullshit.
Post by TigerLuck
Post by Reality_Check©
Which is COMPELTE BULLSHIT !
Post by TigerLuck
Most people buy a house very very infrequently.
As evidenced by your utter pig-ignorance on the subject.
Post by TigerLuck
Mortgage brokers are in the business of arranging
loans.
Really?
Wow. Such a shocking revelation.
Post by TigerLuck
They work at it every day. It was mortgage brokers, intent on
making a commission who arranged loans that could not be paid
back by the people who were borrowing
Why?
Why arrange loans that "could not be paid back" when
there are MILLIONS of borrowers who can and do
pay back their loans, and won't wreck the brokers'
defaulted loan scores with the underwriters?
Post by TigerLuck
if home prices ceased rising and the
borrowers had to start paying on the principal.
So who forced these idiot borrowers to borrow more
than they could afford, eh?
Post by TigerLuck
Mortgage brokers *knew* this. but kept pushing home loans out the door.
You mean that BANKS kept offering those mortgage products, and
idiot greedy corrupt borrowers kept consuming them, eh?
I suppose you blame the U$A's drug problem on Colombia, eh?
Post by TigerLuck
This is what fueled rising home prices. It was a massive pyramid
scheme that was
fueled by mortgage brokers greed for commission money.
No, it was fueled by inbred morons, fools and imbeciles like you
who have no fucking clue, and were willing and eager to commit
FRAUD and other FELONIES so they could have the illusion they
weren't the losers they actually are.
Now tell us again, jackass, how depositing $30,000 gives someone
"instant good credit". Or does that only work for "painters" ?
LOL!
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
It is the scumbag mortgage
brokers who are the real villains in this mess,
You really have no fucking clue what you're yammering about,
do you jackass?
Post by TigerLuck
using fraudulent and crooked methods to get people to sign on
the dotted line
You mean where the *borrower* signs and declares, under PENALTY
of PERJURY that
that everything contaned in the Mortgage Application/Loan
Documents/Financial Statemets/
HUD Declaration and Purchase Agreement is TRUE and CORRECT ?
Post by TigerLuck
for interest only loans that they could not possibly pay back
the principal on,
I pay back principal on my "interest only" loan(s) all the time.
Post by TigerLuck
promising them riches if they only held onto the house for 6
months to a year.
So these friends of yours were pig-ignorant imbeciles ... as
well as primary actors in Bank Fraud, Mail Fraud, and various
other FELONIES, eh?
Post by TigerLuck
You know it and I know and now a few other people know it as well.
I know your original "story" is complete BULLSHIT.
Post by TigerLuck
Thanks for helping get the message out.
Keep digging, jackass ... eventually you'll come out the other side ...
--
Sinatra & Sarah do Witchcraft
http://youtu.be/rqs_2CVcWb0

Meet Pastor Muthee -- the man who laid hands on Sarah Palin
http://youtu.be/CsnrIVj9IbM
Reality_Check©
2008-10-04 05:21:59 UTC
Permalink
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
I ran into a painter on the job who said that in his
area, mortgage brokers would deposit $30,000 into the
account of a client for whom they were trying to get a
loan. The otherwise unqualified buyer would have
instant good credit. After the loan was granted, the
broker pulled his money out.
Complete BULLSHIT !
Gospel truth, so help me...
Complete BULLSHIT ... not even god can help.
1) Depositing $30,000 doesn't change bad credit into
"instant good credit", in fact it doesn't change your
credit score at all. 2) Depositing $30,000 doesn't change
anyone's DTI
ratios from bad to good
3) Depositing $30,000 *does* raise mortgage underwriter
suspicion, and if being used towards the purchase of the
home, would require a verified source statement as to the
exact origin of the funds, and a sworn statement that the
funds were not borrowed/loaned.
Now take your BULLSHIT back to your "painter" friend and
tell him to EAT IT.
And yet, we are faced with the reality that
Depositing $30,000 of unsourced funds doesn't do FUCK ALL
to create "instant good credit".
Post by TigerLuck
mortgage brokers were able to obtain home loans for
clients who had no money to put down,
Because those LOAN PROGRAMS themselves didn't require any
$$ down, jackass.
Post by TigerLuck
no income
Because those LOAN PROGRAMS themselves didn't require income.
Post by TigerLuck
and no assets.
BULLSHIT.
The sub-prime mortgage products required THE HOUSE as the
collateralized asset
to secure the loan.
Post by TigerLuck
Some mortgage brokers are exclusively lenders of their own
money and provide a direct source of mortgage funding to
clients.
Then they must be Registered and Licensed as direct LENDERS
and comply with myriad rules, laws and regulations
governing same.
Post by TigerLuck
This money can be used to secure funds from a third party.
If they qualify according to said third party's
underwriting requirements.
Post by TigerLuck
If the deal is done right, the broker can be paid back
from the third party loan.
Your original "story" is BULLSHIT, continuing to dig won't
get you out of the hole.
Sure it happened.
Complete BULLSHIT.
Post by TigerLuck
I personally know someone who was put into a house
she could not afford because a scumbag mortgage broker used
her own money to help secure a loan without regard to
whether the borrower could really pay it back.
You really have no idea what you're talking about, do you numbnuts?
Post by TigerLuck
The scumbag mortgage broker worked the deal
so that her money was never at risk.
And your friend was *forced* to fill out all those papers,
and *forced* to lie, and *forced* to commit all that fraud,
and *forced* to purchase that house, eh?
That's not what I wrote at all.
"I ran into a painter on the job who said that in his area,
mortgage brokers would deposit $30,000 into the account of a
client for whom they were trying to get a loan. The otherwise
unqualified buyer would have instant good credit. After the
loan was granted, the broker pulled his money out."
Which says nothing about anyone *forcing* anyone to take out a loan, *jackoff*.
So your "painter" *willingly* commited Bank Fraud and other
Felonies, eh jackass?
Nothing that I wrote even comes close to suggesting that.
Yes, it does. You're just too pig-ignorant to know.
Then perhaps you could point out how?
Wallow in it, moron.
I see you snipped the part about here is where you get huffy.
I'm not wallowing in anything.
Your denial is exceeded only by your abject ignorance.
Post by TigerLuck
You seem to be the one who is all hot and bothered.
You seem to be the one exposed as a pathetic liar.
Post by TigerLuck
You wouldn't happen to be a scumbag mortgage broker who can't make a
buck in today's market, would you?
You would happen to be a pig-ignorant imbecile who has no
fucking clue about Real Estate or Mortgage transactions.
Post by TigerLuck
That would explain your sour disposition.
It doesn't explain your pig-ignorance.
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
That you managed to read that into what I wrote pretty much
drives home that you are an imbecile who couldn't tell his right
from his left with an instruction manual with lot's of pictures in in it.
Tell us again how depositing $30,000 gives someone "instant good credit".
Go ahead, liar.
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Now go stand in the corner for 15 minutes and think about what a
raging DUMBASS you are.
This from the ignoramus who claims that depositing $30,000 gives
someone "instant good credit".
Post by TigerLuck
I'm going to assume that rest of your post is just as much a
waste of time to read as what I read so far.
It's your ignorant assumptions that cause you to post such
absurdly false bullshit.
Post by TigerLuck
Post by Reality_Check©
Which is COMPELTE BULLSHIT !
Post by TigerLuck
Most people buy a house very very infrequently.
As evidenced by your utter pig-ignorance on the subject.
Post by TigerLuck
Mortgage brokers are in the business of arranging
loans.
Really?
Wow. Such a shocking revelation.
Post by TigerLuck
They work at it every day. It was mortgage brokers, intent on
making a commission who arranged loans that could not be paid
back by the people who were borrowing
Why?
Why arrange loans that "could not be paid back" when
there are MILLIONS of borrowers who can and do
pay back their loans, and won't wreck the brokers'
defaulted loan scores with the underwriters?
Post by TigerLuck
if home prices ceased rising and the
borrowers had to start paying on the principal.
So who forced these idiot borrowers to borrow more
than they could afford, eh?
Post by TigerLuck
Mortgage brokers *knew* this. but kept pushing home loans out the door.
You mean that BANKS kept offering those mortgage products, and
idiot greedy corrupt borrowers kept consuming them, eh?
I suppose you blame the U$A's drug problem on Colombia, eh?
Post by TigerLuck
This is what fueled rising home prices. It was a massive
pyramid scheme that was
fueled by mortgage brokers greed for commission money.
No, it was fueled by inbred morons, fools and imbeciles like
you who have no fucking clue, and were willing and eager to
commit FRAUD and other FELONIES so they could have the
illusion they weren't the losers they actually are.
Now tell us again, jackass, how depositing $30,000 gives
someone "instant good credit". Or does that only work for
"painters" ?
LOL!
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
It is the scumbag mortgage
brokers who are the real villains in this mess,
You really have no fucking clue what you're yammering about,
do you jackass?
Post by TigerLuck
using fraudulent and crooked methods to get people to sign
on the dotted line
You mean where the *borrower* signs and declares, under
PENALTY of PERJURY that
that everything contaned in the Mortgage Application/Loan
Documents/Financial Statemets/
HUD Declaration and Purchase Agreement is TRUE and CORRECT ?
Post by TigerLuck
for interest only loans that they could not possibly pay
back the principal on,
I pay back principal on my "interest only" loan(s) all the time.
Post by TigerLuck
promising them riches if they only held onto the house for 6
months to a year.
So these friends of yours were pig-ignorant imbeciles ... as
well as primary actors in Bank Fraud, Mail Fraud, and various
other FELONIES, eh?
Post by TigerLuck
You know it and I know and now a few other people know it as well.
I know your original "story" is complete BULLSHIT.
Post by TigerLuck
Thanks for helping get the message out.
Keep digging, jackass ... eventually you'll come out the other side ...
TigerLuck
2008-10-04 05:35:50 UTC
Permalink
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
I ran into a painter on the job who said that in his
area, mortgage brokers would deposit $30,000 into the
account of a client for whom they were trying to get a
loan. The otherwise unqualified buyer would have
instant good credit. After the loan was granted, the
broker pulled his money out.
Complete BULLSHIT !
Gospel truth, so help me...
Complete BULLSHIT ... not even god can help.
1) Depositing $30,000 doesn't change bad credit into
"instant good credit", in fact it doesn't change your
credit score at all. 2) Depositing $30,000 doesn't change
anyone's DTI
ratios from bad to good
3) Depositing $30,000 *does* raise mortgage underwriter
suspicion, and if being used towards the purchase of the
home, would require a verified source statement as to the
exact origin of the funds, and a sworn statement that the
funds were not borrowed/loaned.
Now take your BULLSHIT back to your "painter" friend and
tell him to EAT IT.
And yet, we are faced with the reality that
Depositing $30,000 of unsourced funds doesn't do FUCK ALL
to create "instant good credit".
Post by TigerLuck
mortgage brokers were able to obtain home loans for
clients who had no money to put down,
Because those LOAN PROGRAMS themselves didn't require any
$$ down, jackass.
Post by TigerLuck
no income
Because those LOAN PROGRAMS themselves didn't require income.
Post by TigerLuck
and no assets.
BULLSHIT.
The sub-prime mortgage products required THE HOUSE as the
collateralized asset
to secure the loan.
Post by TigerLuck
Some mortgage brokers are exclusively lenders of their own
money and provide a direct source of mortgage funding to
clients.
Then they must be Registered and Licensed as direct LENDERS
and comply with myriad rules, laws and regulations
governing same.
Post by TigerLuck
This money can be used to secure funds from a third party.
If they qualify according to said third party's
underwriting requirements.
Post by TigerLuck
If the deal is done right, the broker can be paid back
from the third party loan.
Your original "story" is BULLSHIT, continuing to dig won't
get you out of the hole.
Sure it happened.
Complete BULLSHIT.
Post by TigerLuck
I personally know someone who was put into a house
she could not afford because a scumbag mortgage broker used
her own money to help secure a loan without regard to
whether the borrower could really pay it back.
You really have no idea what you're talking about, do you numbnuts?
Post by TigerLuck
The scumbag mortgage broker worked the deal
so that her money was never at risk.
And your friend was *forced* to fill out all those papers,
and *forced* to lie, and *forced* to commit all that fraud,
and *forced* to purchase that house, eh?
That's not what I wrote at all.
"I ran into a painter on the job who said that in his area,
mortgage brokers would deposit $30,000 into the account of a
client for whom they were trying to get a loan. The otherwise
unqualified buyer would have instant good credit. After the
loan was granted, the broker pulled his money out."
Which says nothing about anyone *forcing* anyone to take out a
loan, *jackoff*.
So your "painter" *willingly* commited Bank Fraud and other
Felonies, eh jackass?
Nothing that I wrote even comes close to suggesting that.
Yes, it does. You're just too pig-ignorant to know.
Then perhaps you could point out how?
Wallow in it, moron.
I see you snipped the part about here is where you get huffy.
I'm not wallowing in anything.
Your denial is exceeded only by your abject ignorance.
Scumbag mortgage brokers fueled the real estate bubble that has the
banking system teetering near collapse.

Deny all you want to, but you know it is true. Mortgage brokers work on
commission and the more loans they bring in to lending institution, the
more money they make. Instead of acting responsibly they used every
lever at their disposal to keep pushing loans out the door to
unqualified buyers. They are the ones who bear ultimate responsibility
for bring the US to the brink of financial ruin.

All your denial and protests will not change that reality one bit.
Post by Reality_Check©
Post by TigerLuck
You seem to be the one who is all hot and bothered.
You seem to be the one exposed as a pathetic liar.
Post by TigerLuck
You wouldn't happen to be a scumbag mortgage broker who can't make a
buck in today's market, would you?
You would happen to be a pig-ignorant imbecile who has no
fucking clue about Real Estate or Mortgage transactions.
Post by TigerLuck
That would explain your sour disposition.
It doesn't explain your pig-ignorance.
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
That you managed to read that into what I wrote pretty much
drives home that you are an imbecile who couldn't tell his right
from his left with an instruction manual with lot's of pictures in in it.
Tell us again how depositing $30,000 gives someone "instant good credit".
Go ahead, liar.
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Now go stand in the corner for 15 minutes and think about what a
raging DUMBASS you are.
This from the ignoramus who claims that depositing $30,000 gives
someone "instant good credit".
Post by TigerLuck
I'm going to assume that rest of your post is just as much a
waste of time to read as what I read so far.
It's your ignorant assumptions that cause you to post such
absurdly false bullshit.
Post by TigerLuck
Post by Reality_Check©
Which is COMPELTE BULLSHIT !
Post by TigerLuck
Most people buy a house very very infrequently.
As evidenced by your utter pig-ignorance on the subject.
Post by TigerLuck
Mortgage brokers are in the business of arranging
loans.
Really?
Wow. Such a shocking revelation.
Post by TigerLuck
They work at it every day. It was mortgage brokers, intent on
making a commission who arranged loans that could not be paid
back by the people who were borrowing
Why?
Why arrange loans that "could not be paid back" when
there are MILLIONS of borrowers who can and do
pay back their loans, and won't wreck the brokers'
defaulted loan scores with the underwriters?
Post by TigerLuck
if home prices ceased rising and the
borrowers had to start paying on the principal.
So who forced these idiot borrowers to borrow more
than they could afford, eh?
Post by TigerLuck
Mortgage brokers *knew* this. but kept pushing home loans out the door.
You mean that BANKS kept offering those mortgage products, and
idiot greedy corrupt borrowers kept consuming them, eh?
I suppose you blame the U$A's drug problem on Colombia, eh?
Post by TigerLuck
This is what fueled rising home prices. It was a massive
pyramid scheme that was
fueled by mortgage brokers greed for commission money.
No, it was fueled by inbred morons, fools and imbeciles like
you who have no fucking clue, and were willing and eager to
commit FRAUD and other FELONIES so they could have the
illusion they weren't the losers they actually are.
Now tell us again, jackass, how depositing $30,000 gives
someone "instant good credit". Or does that only work for
"painters" ?
LOL!
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
It is the scumbag mortgage
brokers who are the real villains in this mess,
You really have no fucking clue what you're yammering about,
do you jackass?
Post by TigerLuck
using fraudulent and crooked methods to get people to sign
on the dotted line
You mean where the *borrower* signs and declares, under
PENALTY of PERJURY that
that everything contaned in the Mortgage Application/Loan
Documents/Financial Statemets/
HUD Declaration and Purchase Agreement is TRUE and CORRECT ?
Post by TigerLuck
for interest only loans that they could not possibly pay
back the principal on,
I pay back principal on my "interest only" loan(s) all the time.
Post by TigerLuck
promising them riches if they only held onto the house for 6
months to a year.
So these friends of yours were pig-ignorant imbeciles ... as
well as primary actors in Bank Fraud, Mail Fraud, and various
other FELONIES, eh?
Post by TigerLuck
You know it and I know and now a few other people know it as well.
I know your original "story" is complete BULLSHIT.
Post by TigerLuck
Thanks for helping get the message out.
Keep digging, jackass ... eventually you'll come out the other side ...
--
Sinatra & Sarah do Witchcraft
http://youtu.be/rqs_2CVcWb0

Meet Pastor Muthee -- the man who laid hands on Sarah Palin
http://youtu.be/CsnrIVj9IbM
Reality_Check©
2008-10-04 06:02:23 UTC
Permalink
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
I ran into a painter on the job who said that in his
area, mortgage brokers would deposit $30,000 into
the account of a client for whom they were trying
to get a loan. The otherwise unqualified buyer
would have instant good credit. After the loan was
granted, the broker pulled his money out.
Complete BULLSHIT !
Gospel truth, so help me...
Complete BULLSHIT ... not even god can help.
1) Depositing $30,000 doesn't change bad credit into
"instant good credit", in fact it doesn't change your
credit score at all. 2) Depositing $30,000 doesn't
change anyone's DTI
ratios from bad to good
3) Depositing $30,000 *does* raise mortgage underwriter
suspicion, and if being used towards the purchase of
the home, would require a verified source statement as
to the exact origin of the funds, and a sworn
statement that the funds were not borrowed/loaned.
Now take your BULLSHIT back to your "painter" friend
and tell him to EAT IT.
And yet, we are faced with the reality that
Depositing $30,000 of unsourced funds doesn't do FUCK ALL
to create "instant good credit".
Post by TigerLuck
mortgage brokers were able to obtain home loans for
clients who had no money to put down,
Because those LOAN PROGRAMS themselves didn't require any
$$ down, jackass.
Post by TigerLuck
no income
Because those LOAN PROGRAMS themselves didn't require income.
Post by TigerLuck
and no assets.
BULLSHIT.
The sub-prime mortgage products required THE HOUSE as the
collateralized asset
to secure the loan.
Post by TigerLuck
Some mortgage brokers are exclusively lenders of their
own money and provide a direct source of mortgage
funding to clients.
Then they must be Registered and Licensed as direct
LENDERS and comply with myriad rules, laws and
regulations governing same.
Post by TigerLuck
This money can be used to secure funds from a third party.
If they qualify according to said third party's
underwriting requirements.
Post by TigerLuck
If the deal is done right, the broker can be paid back
from the third party loan.
Your original "story" is BULLSHIT, continuing to dig
won't get you out of the hole.
Sure it happened.
Complete BULLSHIT.
Post by TigerLuck
I personally know someone who was put into a house
she could not afford because a scumbag mortgage broker
used her own money to help secure a loan without regard to
whether the borrower could really pay it back.
You really have no idea what you're talking about, do you numbnuts?
Post by TigerLuck
The scumbag mortgage broker worked the deal
so that her money was never at risk.
And your friend was *forced* to fill out all those papers,
and *forced* to lie, and *forced* to commit all that fraud,
and *forced* to purchase that house, eh?
That's not what I wrote at all.
"I ran into a painter on the job who said that in his area,
mortgage brokers would deposit $30,000 into the account of a
client for whom they were trying to get a loan. The otherwise
unqualified buyer would have instant good credit. After the
loan was granted, the broker pulled his money out."
Which says nothing about anyone *forcing* anyone to take out a
loan, *jackoff*.
So your "painter" *willingly* commited Bank Fraud and other
Felonies, eh jackass?
Nothing that I wrote even comes close to suggesting that.
Yes, it does. You're just too pig-ignorant to know.
Then perhaps you could point out how?
Wallow in it, moron.
I see you snipped the part about here is where you get huffy.
I'm not wallowing in anything.
Your denial is exceeded only by your abject ignorance.
Scumbag mortgage brokers fueled the real estate bubble that has the
banking system teetering near collapse.
You're dumber than a bucket of dirt.

Keep spewing your lies and ignorance and see if you can
appear even more clueless.
Post by TigerLuck
Deny all you want to, but you know it is true. Mortgage brokers work
on commission and the more loans they bring in to lending
institution, the more money they make.
Real Estate agents work on commission.

The more appraisals that Appraisers do, the more money they make.

Got any more revelations?
Post by TigerLuck
Instead of acting responsibly they used every lever at their disposal to
keep pushing loans out the door to unqualified buyers.
The buyers had to qualify to get the loans, jackass.
Post by TigerLuck
They are the ones who bear ultimate
responsibility for bring the US to the brink of financial ruin.
The ignorant corrupt fraudulent borrowers are the one's
who LIED and committed FRAUD for their own selfish greed.
Post by TigerLuck
All your denial and protests will not change that reality one bit.
All your lies and bullshit won't make your nonsense any closer to reality.
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
You seem to be the one who is all hot and bothered.
You seem to be the one exposed as a pathetic liar.
Post by TigerLuck
You wouldn't happen to be a scumbag mortgage broker who can't make a
buck in today's market, would you?
You would happen to be a pig-ignorant imbecile who has no
fucking clue about Real Estate or Mortgage transactions.
Post by TigerLuck
That would explain your sour disposition.
It doesn't explain your pig-ignorance.
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
That you managed to read that into what I wrote pretty much
drives home that you are an imbecile who couldn't tell his right
from his left with an instruction manual with lot's of pictures in in it.
Tell us again how depositing $30,000 gives someone "instant good credit".
Go ahead, liar.
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Now go stand in the corner for 15 minutes and think about
what a raging DUMBASS you are.
This from the ignoramus who claims that depositing $30,000
gives someone "instant good credit".
Post by TigerLuck
I'm going to assume that rest of your post is just as much a
waste of time to read as what I read so far.
It's your ignorant assumptions that cause you to post such
absurdly false bullshit.
Post by TigerLuck
Post by Reality_Check©
Which is COMPELTE BULLSHIT !
Post by TigerLuck
Most people buy a house very very infrequently.
As evidenced by your utter pig-ignorance on the subject.
Post by TigerLuck
Mortgage brokers are in the business of arranging
loans.
Really?
Wow. Such a shocking revelation.
Post by TigerLuck
They work at it every day. It was mortgage brokers, intent
on making a commission who arranged loans that could not be
paid back by the people who were borrowing
Why?
Why arrange loans that "could not be paid back" when
there are MILLIONS of borrowers who can and do
pay back their loans, and won't wreck the brokers'
defaulted loan scores with the underwriters?
Post by TigerLuck
if home prices ceased rising and the
borrowers had to start paying on the principal.
So who forced these idiot borrowers to borrow more
than they could afford, eh?
Post by TigerLuck
Mortgage brokers *knew* this. but kept pushing home loans out the door.
You mean that BANKS kept offering those mortgage products,
and idiot greedy corrupt borrowers kept consuming them, eh?
I suppose you blame the U$A's drug problem on Colombia, eh?
Post by TigerLuck
This is what fueled rising home prices. It was a massive
pyramid scheme that was
fueled by mortgage brokers greed for commission money.
No, it was fueled by inbred morons, fools and imbeciles like
you who have no fucking clue, and were willing and eager to
commit FRAUD and other FELONIES so they could have the
illusion they weren't the losers they actually are.
Now tell us again, jackass, how depositing $30,000 gives
someone "instant good credit". Or does that only work for
"painters" ?
LOL!
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
It is the scumbag mortgage
brokers who are the real villains in this mess,
You really have no fucking clue what you're yammering
about, do you jackass?
Post by TigerLuck
using fraudulent and crooked methods to get people to sign
on the dotted line
You mean where the *borrower* signs and declares, under
PENALTY of PERJURY that
that everything contaned in the Mortgage Application/Loan
Documents/Financial Statemets/
HUD Declaration and Purchase Agreement is TRUE and CORRECT ?
Post by TigerLuck
for interest only loans that they could not possibly pay
back the principal on,
I pay back principal on my "interest only" loan(s) all the time.
Post by TigerLuck
promising them riches if they only held onto the house
for 6 months to a year.
So these friends of yours were pig-ignorant imbeciles ...
as well as primary actors in Bank Fraud, Mail Fraud, and
various other FELONIES, eh?
Post by TigerLuck
You know it and I know and now a few other people know it as well.
I know your original "story" is complete BULLSHIT.
Post by TigerLuck
Thanks for helping get the message out.
Keep digging, jackass ... eventually you'll come out the
other side ...
TigerLuck
2008-10-04 06:06:02 UTC
Permalink
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
I ran into a painter on the job who said that in his
area, mortgage brokers would deposit $30,000 into
the account of a client for whom they were trying
to get a loan. The otherwise unqualified buyer
would have instant good credit. After the loan was
granted, the broker pulled his money out.
Complete BULLSHIT !
Gospel truth, so help me...
Complete BULLSHIT ... not even god can help.
1) Depositing $30,000 doesn't change bad credit into
"instant good credit", in fact it doesn't change your
credit score at all. 2) Depositing $30,000 doesn't
change anyone's DTI
ratios from bad to good
3) Depositing $30,000 *does* raise mortgage underwriter
suspicion, and if being used towards the purchase of
the home, would require a verified source statement as
to the exact origin of the funds, and a sworn
statement that the funds were not borrowed/loaned.
Now take your BULLSHIT back to your "painter" friend
and tell him to EAT IT.
And yet, we are faced with the reality that
Depositing $30,000 of unsourced funds doesn't do FUCK ALL
to create "instant good credit".
Post by TigerLuck
mortgage brokers were able to obtain home loans for
clients who had no money to put down,
Because those LOAN PROGRAMS themselves didn't require any
$$ down, jackass.
Post by TigerLuck
no income
Because those LOAN PROGRAMS themselves didn't require income.
Post by TigerLuck
and no assets.
BULLSHIT.
The sub-prime mortgage products required THE HOUSE as the
collateralized asset
to secure the loan.
Post by TigerLuck
Some mortgage brokers are exclusively lenders of their
own money and provide a direct source of mortgage
funding to clients.
Then they must be Registered and Licensed as direct
LENDERS and comply with myriad rules, laws and
regulations governing same.
Post by TigerLuck
This money can be used to secure funds from a third party.
If they qualify according to said third party's
underwriting requirements.
Post by TigerLuck
If the deal is done right, the broker can be paid back
from the third party loan.
Your original "story" is BULLSHIT, continuing to dig
won't get you out of the hole.
Sure it happened.
Complete BULLSHIT.
Post by TigerLuck
I personally know someone who was put into a house
she could not afford because a scumbag mortgage broker
used her own money to help secure a loan without regard to
whether the borrower could really pay it back.
You really have no idea what you're talking about, do you numbnuts?
Post by TigerLuck
The scumbag mortgage broker worked the deal
so that her money was never at risk.
And your friend was *forced* to fill out all those papers,
and *forced* to lie, and *forced* to commit all that fraud,
and *forced* to purchase that house, eh?
That's not what I wrote at all.
"I ran into a painter on the job who said that in his area,
mortgage brokers would deposit $30,000 into the account of a
client for whom they were trying to get a loan. The otherwise
unqualified buyer would have instant good credit. After the
loan was granted, the broker pulled his money out."
Which says nothing about anyone *forcing* anyone to take out a
loan, *jackoff*.
So your "painter" *willingly* commited Bank Fraud and other
Felonies, eh jackass?
Nothing that I wrote even comes close to suggesting that.
Yes, it does. You're just too pig-ignorant to know.
Then perhaps you could point out how?
Wallow in it, moron.
I see you snipped the part about here is where you get huffy.
I'm not wallowing in anything.
Your denial is exceeded only by your abject ignorance.
Scumbag mortgage brokers fueled the real estate bubble that has the
banking system teetering near collapse.
You're dumber than a bucket of dirt.
Keep spewing your lies and ignorance and see if you can
appear even more clueless.
You haven't offered up any other explanation.

Why is that?

You have none?
Post by Reality_Check©
Post by TigerLuck
Deny all you want to, but you know it is true. Mortgage brokers work
on commission and the more loans they bring in to lending
institution, the more money they make.
Real Estate agents work on commission.
The more appraisals that Appraisers do, the more money they make.
Got any more revelations?
Post by TigerLuck
Instead of acting responsibly they used every lever at their disposal to
keep pushing loans out the door to unqualified buyers.
The buyers had to qualify to get the loans, jackass.
Post by TigerLuck
They are the ones who bear ultimate
responsibility for bring the US to the brink of financial ruin.
The ignorant corrupt fraudulent borrowers are the one's
who LIED and committed FRAUD for their own selfish greed.
Post by TigerLuck
All your denial and protests will not change that reality one bit.
All your lies and bullshit won't make your nonsense any closer to reality.
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
You seem to be the one who is all hot and bothered.
You seem to be the one exposed as a pathetic liar.
Post by TigerLuck
You wouldn't happen to be a scumbag mortgage broker who can't make a
buck in today's market, would you?
You would happen to be a pig-ignorant imbecile who has no
fucking clue about Real Estate or Mortgage transactions.
Post by TigerLuck
That would explain your sour disposition.
It doesn't explain your pig-ignorance.
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
That you managed to read that into what I wrote pretty much
drives home that you are an imbecile who couldn't tell his right
from his left with an instruction manual with lot's of pictures in in it.
Tell us again how depositing $30,000 gives someone "instant good credit".
Go ahead, liar.
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Now go stand in the corner for 15 minutes and think about
what a raging DUMBASS you are.
This from the ignoramus who claims that depositing $30,000
gives someone "instant good credit".
Post by TigerLuck
I'm going to assume that rest of your post is just as much a
waste of time to read as what I read so far.
It's your ignorant assumptions that cause you to post such
absurdly false bullshit.
Post by TigerLuck
Post by Reality_Check©
Which is COMPELTE BULLSHIT !
Post by TigerLuck
Most people buy a house very very infrequently.
As evidenced by your utter pig-ignorance on the subject.
Post by TigerLuck
Mortgage brokers are in the business of arranging
loans.
Really?
Wow. Such a shocking revelation.
Post by TigerLuck
They work at it every day. It was mortgage brokers, intent
on making a commission who arranged loans that could not be
paid back by the people who were borrowing
Why?
Why arrange loans that "could not be paid back" when
there are MILLIONS of borrowers who can and do
pay back their loans, and won't wreck the brokers'
defaulted loan scores with the underwriters?
Post by TigerLuck
if home prices ceased rising and the
borrowers had to start paying on the principal.
So who forced these idiot borrowers to borrow more
than they could afford, eh?
Post by TigerLuck
Mortgage brokers *knew* this. but kept pushing home loans
out the door.
You mean that BANKS kept offering those mortgage products,
and idiot greedy corrupt borrowers kept consuming them, eh?
I suppose you blame the U$A's drug problem on Colombia, eh?
Post by TigerLuck
This is what fueled rising home prices. It was a massive
pyramid scheme that was
fueled by mortgage brokers greed for commission money.
No, it was fueled by inbred morons, fools and imbeciles like
you who have no fucking clue, and were willing and eager to
commit FRAUD and other FELONIES so they could have the
illusion they weren't the losers they actually are.
Now tell us again, jackass, how depositing $30,000 gives
someone "instant good credit". Or does that only work for
"painters" ?
LOL!
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
It is the scumbag mortgage
brokers who are the real villains in this mess,
You really have no fucking clue what you're yammering
about, do you jackass?
Post by TigerLuck
using fraudulent and crooked methods to get people to sign
on the dotted line
You mean where the *borrower* signs and declares, under
PENALTY of PERJURY that
that everything contaned in the Mortgage Application/Loan
Documents/Financial Statemets/
HUD Declaration and Purchase Agreement is TRUE and CORRECT ?
Post by TigerLuck
for interest only loans that they could not possibly pay
back the principal on,
I pay back principal on my "interest only" loan(s) all the time.
Post by TigerLuck
promising them riches if they only held onto the house
for 6 months to a year.
So these friends of yours were pig-ignorant imbeciles ...
as well as primary actors in Bank Fraud, Mail Fraud, and
various other FELONIES, eh?
Post by TigerLuck
You know it and I know and now a few other people know it
as well.
I know your original "story" is complete BULLSHIT.
Post by TigerLuck
Thanks for helping get the message out.
Keep digging, jackass ... eventually you'll come out the
other side ...
--
Sinatra & Sarah do Witchcraft
http://youtu.be/rqs_2CVcWb0

Meet Pastor Muthee -- the man who laid hands on Sarah Palin
http://youtu.be/CsnrIVj9IbM
Reality_Check©
2008-10-04 06:15:49 UTC
Permalink
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
I ran into a painter on the job who said that in
his area, mortgage brokers would deposit $30,000
into the account of a client for whom they were
trying to get a loan. The otherwise unqualified
buyer would have instant good credit. After the
loan was granted, the broker pulled his money out.
Complete BULLSHIT !
Gospel truth, so help me...
Complete BULLSHIT ... not even god can help.
1) Depositing $30,000 doesn't change bad credit into
"instant good credit", in fact it doesn't change your
credit score at all. 2) Depositing $30,000 doesn't
change anyone's DTI
ratios from bad to good
3) Depositing $30,000 *does* raise mortgage
underwriter suspicion, and if being used towards the
purchase of the home, would require a verified
source statement as to the exact origin of the
funds, and a sworn statement that the funds were not
borrowed/loaned.
Now take your BULLSHIT back to your "painter" friend
and tell him to EAT IT.
And yet, we are faced with the reality that
Depositing $30,000 of unsourced funds doesn't do FUCK
ALL to create "instant good credit".
Post by TigerLuck
mortgage brokers were able to obtain home loans for
clients who had no money to put down,
Because those LOAN PROGRAMS themselves didn't require
any $$ down, jackass.
Post by TigerLuck
no income
Because those LOAN PROGRAMS themselves didn't require income.
Post by TigerLuck
and no assets.
BULLSHIT.
The sub-prime mortgage products required THE HOUSE as
the collateralized asset
to secure the loan.
Post by TigerLuck
Some mortgage brokers are exclusively lenders of their
own money and provide a direct source of mortgage
funding to clients.
Then they must be Registered and Licensed as direct
LENDERS and comply with myriad rules, laws and
regulations governing same.
Post by TigerLuck
This money can be used to secure funds from a third party.
If they qualify according to said third party's
underwriting requirements.
Post by TigerLuck
If the deal is done right, the broker can be paid back
from the third party loan.
Your original "story" is BULLSHIT, continuing to dig
won't get you out of the hole.
Sure it happened.
Complete BULLSHIT.
Post by TigerLuck
I personally know someone who was put into a house
she could not afford because a scumbag mortgage broker
used her own money to help secure a loan without regard
to whether the borrower could really pay it back.
You really have no idea what you're talking about, do you
numbnuts?
Post by TigerLuck
The scumbag mortgage broker worked the deal
so that her money was never at risk.
And your friend was *forced* to fill out all those
papers, and *forced* to lie, and *forced* to commit all
that fraud, and *forced* to purchase that house, eh?
That's not what I wrote at all.
"I ran into a painter on the job who said that in his area,
mortgage brokers would deposit $30,000 into the account of
a client for whom they were trying to get a loan. The
otherwise unqualified buyer would have instant good
credit. After the loan was granted, the broker pulled his
money out."
Which says nothing about anyone *forcing* anyone to take
out a loan, *jackoff*.
So your "painter" *willingly* commited Bank Fraud and other
Felonies, eh jackass?
Nothing that I wrote even comes close to suggesting that.
Yes, it does. You're just too pig-ignorant to know.
Then perhaps you could point out how?
Wallow in it, moron.
I see you snipped the part about here is where you get huffy.
I'm not wallowing in anything.
Your denial is exceeded only by your abject ignorance.
Scumbag mortgage brokers fueled the real estate bubble that has the
banking system teetering near collapse.
You're dumber than a bucket of dirt.
Keep spewing your lies and ignorance and see if you can
appear even more clueless.
You haven't offered up any other explanation.
1) You're lying.
2) Even if no other explaination was offered, it don't make your BULLSHIT
pack of ignorance and lies any less false.
Post by TigerLuck
Why is that?
You have none?
You're lying again, asswipe.
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Deny all you want to, but you know it is true. Mortgage brokers work
on commission and the more loans they bring in to lending
institution, the more money they make.
Real Estate agents work on commission.
The more appraisals that Appraisers do, the more money they make.
Got any more revelations?
Post by TigerLuck
Instead of acting responsibly they used every lever at their
disposal to keep pushing loans out the door to unqualified buyers.
The buyers had to qualify to get the loans, jackass.
Post by TigerLuck
They are the ones who bear ultimate
responsibility for bring the US to the brink of financial ruin.
The ignorant corrupt fraudulent borrowers are the one's
who LIED and committed FRAUD for their own selfish greed.
Post by TigerLuck
All your denial and protests will not change that reality one bit.
All your lies and bullshit won't make your nonsense any closer to reality.
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
You seem to be the one who is all hot and bothered.
You seem to be the one exposed as a pathetic liar.
Post by TigerLuck
You wouldn't happen to be a scumbag mortgage broker who can't
make a buck in today's market, would you?
You would happen to be a pig-ignorant imbecile who has no
fucking clue about Real Estate or Mortgage transactions.
Post by TigerLuck
That would explain your sour disposition.
It doesn't explain your pig-ignorance.
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
That you managed to read that into what I wrote pretty much
drives home that you are an imbecile who couldn't tell his
right from his left with an instruction manual with lot's of
pictures in in it.
Tell us again how depositing $30,000 gives someone "instant good credit".
Go ahead, liar.
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Now go stand in the corner for 15 minutes and think about
what a raging DUMBASS you are.
This from the ignoramus who claims that depositing $30,000
gives someone "instant good credit".
Post by TigerLuck
I'm going to assume that rest of your post is just as much a
waste of time to read as what I read so far.
It's your ignorant assumptions that cause you to post such
absurdly false bullshit.
Post by TigerLuck
Post by Reality_Check©
Which is COMPELTE BULLSHIT !
Post by TigerLuck
Most people buy a house very very infrequently.
As evidenced by your utter pig-ignorance on the subject.
Post by TigerLuck
Mortgage brokers are in the business of arranging
loans.
Really?
Wow. Such a shocking revelation.
Post by TigerLuck
They work at it every day. It was mortgage brokers, intent
on making a commission who arranged loans that could not
be paid back by the people who were borrowing
Why?
Why arrange loans that "could not be paid back" when
there are MILLIONS of borrowers who can and do
pay back their loans, and won't wreck the brokers'
defaulted loan scores with the underwriters?
Post by TigerLuck
if home prices ceased rising and the
borrowers had to start paying on the principal.
So who forced these idiot borrowers to borrow more
than they could afford, eh?
Post by TigerLuck
Mortgage brokers *knew* this. but kept pushing home loans
out the door.
You mean that BANKS kept offering those mortgage products,
and idiot greedy corrupt borrowers kept consuming them, eh?
I suppose you blame the U$A's drug problem on Colombia, eh?
Post by TigerLuck
This is what fueled rising home prices. It was a massive
pyramid scheme that was
fueled by mortgage brokers greed for commission money.
No, it was fueled by inbred morons, fools and imbeciles
like you who have no fucking clue, and were willing and
eager to commit FRAUD and other FELONIES so they could
have the illusion they weren't the losers they actually
are.
Now tell us again, jackass, how depositing $30,000 gives
someone "instant good credit". Or does that only work for
"painters" ?
LOL!
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
It is the scumbag mortgage
brokers who are the real villains in this mess,
You really have no fucking clue what you're yammering
about, do you jackass?
Post by TigerLuck
using fraudulent and crooked methods to get people to
sign on the dotted line
You mean where the *borrower* signs and declares, under
PENALTY of PERJURY that
that everything contaned in the Mortgage Application/Loan
Documents/Financial Statemets/
HUD Declaration and Purchase Agreement is TRUE and CORRECT ?
Post by TigerLuck
for interest only loans that they could not possibly pay
back the principal on,
I pay back principal on my "interest only" loan(s) all the time.
Post by TigerLuck
promising them riches if they only held onto the house
for 6 months to a year.
So these friends of yours were pig-ignorant imbeciles ...
as well as primary actors in Bank Fraud, Mail Fraud, and
various other FELONIES, eh?
Post by TigerLuck
You know it and I know and now a few other people know
it as well.
I know your original "story" is complete BULLSHIT.
Post by TigerLuck
Thanks for helping get the message out.
Keep digging, jackass ... eventually you'll come out the
other side ...
TigerLuck
2008-10-04 06:24:46 UTC
Permalink
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
I ran into a painter on the job who said that in
his area, mortgage brokers would deposit $30,000
into the account of a client for whom they were
trying to get a loan. The otherwise unqualified
buyer would have instant good credit. After the
loan was granted, the broker pulled his money out.
Complete BULLSHIT !
Gospel truth, so help me...
Complete BULLSHIT ... not even god can help.
1) Depositing $30,000 doesn't change bad credit into
"instant good credit", in fact it doesn't change your
credit score at all. 2) Depositing $30,000 doesn't
change anyone's DTI
ratios from bad to good
3) Depositing $30,000 *does* raise mortgage
underwriter suspicion, and if being used towards the
purchase of the home, would require a verified
source statement as to the exact origin of the
funds, and a sworn statement that the funds were not
borrowed/loaned.
Now take your BULLSHIT back to your "painter" friend
and tell him to EAT IT.
And yet, we are faced with the reality that
Depositing $30,000 of unsourced funds doesn't do FUCK
ALL to create "instant good credit".
Post by TigerLuck
mortgage brokers were able to obtain home loans for
clients who had no money to put down,
Because those LOAN PROGRAMS themselves didn't require
any $$ down, jackass.
Post by TigerLuck
no income
Because those LOAN PROGRAMS themselves didn't require
income.
Post by TigerLuck
and no assets.
BULLSHIT.
The sub-prime mortgage products required THE HOUSE as
the collateralized asset
to secure the loan.
Post by TigerLuck
Some mortgage brokers are exclusively lenders of their
own money and provide a direct source of mortgage
funding to clients.
Then they must be Registered and Licensed as direct
LENDERS and comply with myriad rules, laws and
regulations governing same.
Post by TigerLuck
This money can be used to secure funds from a third
party.
If they qualify according to said third party's
underwriting requirements.
Post by TigerLuck
If the deal is done right, the broker can be paid back
from the third party loan.
Your original "story" is BULLSHIT, continuing to dig
won't get you out of the hole.
Sure it happened.
Complete BULLSHIT.
Post by TigerLuck
I personally know someone who was put into a house
she could not afford because a scumbag mortgage broker
used her own money to help secure a loan without regard
to whether the borrower could really pay it back.
You really have no idea what you're talking about, do you
numbnuts?
Post by TigerLuck
The scumbag mortgage broker worked the deal
so that her money was never at risk.
And your friend was *forced* to fill out all those
papers, and *forced* to lie, and *forced* to commit all
that fraud, and *forced* to purchase that house, eh?
That's not what I wrote at all.
"I ran into a painter on the job who said that in his area,
mortgage brokers would deposit $30,000 into the account of
a client for whom they were trying to get a loan. The
otherwise unqualified buyer would have instant good
credit. After the loan was granted, the broker pulled his
money out."
Which says nothing about anyone *forcing* anyone to take
out a loan, *jackoff*.
So your "painter" *willingly* commited Bank Fraud and other
Felonies, eh jackass?
Nothing that I wrote even comes close to suggesting that.
Yes, it does. You're just too pig-ignorant to know.
Then perhaps you could point out how?
Wallow in it, moron.
I see you snipped the part about here is where you get huffy.
I'm not wallowing in anything.
Your denial is exceeded only by your abject ignorance.
Scumbag mortgage brokers fueled the real estate bubble that has the
banking system teetering near collapse.
You're dumber than a bucket of dirt.
Keep spewing your lies and ignorance and see if you can
appear even more clueless.
You haven't offered up any other explanation.
1) You're lying.
2) Even if no other explaination was offered, it don't make your BULLSHIT
pack of ignorance and lies any less false.
Hey, Einstein... I'm waiting for your explanation.

Only the mortgage brokers had means, motive and opportunity. They are
the common thread in just about every mortgage loan gone bad.

Why are you defending them?
Post by Reality_Check©
Post by TigerLuck
Why is that?
You have none?
You're lying again, asswipe.
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Deny all you want to, but you know it is true. Mortgage brokers work
on commission and the more loans they bring in to lending
institution, the more money they make.
Real Estate agents work on commission.
The more appraisals that Appraisers do, the more money they make.
Got any more revelations?
Post by TigerLuck
Instead of acting responsibly they used every lever at their
disposal to keep pushing loans out the door to unqualified buyers.
The buyers had to qualify to get the loans, jackass.
Post by TigerLuck
They are the ones who bear ultimate
responsibility for bring the US to the brink of financial ruin.
The ignorant corrupt fraudulent borrowers are the one's
who LIED and committed FRAUD for their own selfish greed.
Post by TigerLuck
All your denial and protests will not change that reality one bit.
All your lies and bullshit won't make your nonsense any closer to reality.
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
You seem to be the one who is all hot and bothered.
You seem to be the one exposed as a pathetic liar.
Post by TigerLuck
You wouldn't happen to be a scumbag mortgage broker who can't
make a buck in today's market, would you?
You would happen to be a pig-ignorant imbecile who has no
fucking clue about Real Estate or Mortgage transactions.
Post by TigerLuck
That would explain your sour disposition.
It doesn't explain your pig-ignorance.
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
That you managed to read that into what I wrote pretty much
drives home that you are an imbecile who couldn't tell his
right from his left with an instruction manual with lot's of
pictures in in it.
Tell us again how depositing $30,000 gives someone "instant good credit".
Go ahead, liar.
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Now go stand in the corner for 15 minutes and think about
what a raging DUMBASS you are.
This from the ignoramus who claims that depositing $30,000
gives someone "instant good credit".
Post by TigerLuck
I'm going to assume that rest of your post is just as much a
waste of time to read as what I read so far.
It's your ignorant assumptions that cause you to post such
absurdly false bullshit.
Post by TigerLuck
Post by Reality_Check©
Which is COMPELTE BULLSHIT !
Post by TigerLuck
Most people buy a house very very infrequently.
As evidenced by your utter pig-ignorance on the subject.
Post by TigerLuck
Mortgage brokers are in the business of arranging
loans.
Really?
Wow. Such a shocking revelation.
Post by TigerLuck
They work at it every day. It was mortgage brokers, intent
on making a commission who arranged loans that could not
be paid back by the people who were borrowing
Why?
Why arrange loans that "could not be paid back" when
there are MILLIONS of borrowers who can and do
pay back their loans, and won't wreck the brokers'
defaulted loan scores with the underwriters?
Post by TigerLuck
if home prices ceased rising and the
borrowers had to start paying on the principal.
So who forced these idiot borrowers to borrow more
than they could afford, eh?
Post by TigerLuck
Mortgage brokers *knew* this. but kept pushing home loans
out the door.
You mean that BANKS kept offering those mortgage products,
and idiot greedy corrupt borrowers kept consuming them, eh?
I suppose you blame the U$A's drug problem on Colombia, eh?
Post by TigerLuck
This is what fueled rising home prices. It was a massive
pyramid scheme that was
fueled by mortgage brokers greed for commission money.
No, it was fueled by inbred morons, fools and imbeciles
like you who have no fucking clue, and were willing and
eager to commit FRAUD and other FELONIES so they could
have the illusion they weren't the losers they actually
are.
Now tell us again, jackass, how depositing $30,000 gives
someone "instant good credit". Or does that only work for
"painters" ?
LOL!
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
It is the scumbag mortgage
brokers who are the real villains in this mess,
You really have no fucking clue what you're yammering
about, do you jackass?
Post by TigerLuck
using fraudulent and crooked methods to get people to
sign on the dotted line
You mean where the *borrower* signs and declares, under
PENALTY of PERJURY that
that everything contaned in the Mortgage Application/Loan
Documents/Financial Statemets/
HUD Declaration and Purchase Agreement is TRUE and CORRECT ?
Post by TigerLuck
for interest only loans that they could not possibly pay
back the principal on,
I pay back principal on my "interest only" loan(s) all
the time.
Post by TigerLuck
promising them riches if they only held onto the house
for 6 months to a year.
So these friends of yours were pig-ignorant imbeciles ...
as well as primary actors in Bank Fraud, Mail Fraud, and
various other FELONIES, eh?
Post by TigerLuck
You know it and I know and now a few other people know
it as well.
I know your original "story" is complete BULLSHIT.
Post by TigerLuck
Thanks for helping get the message out.
Keep digging, jackass ... eventually you'll come out the
other side ...
--
Sinatra & Sarah do Witchcraft
http://youtu.be/rqs_2CVcWb0

Meet Pastor Muthee -- the man who laid hands on Sarah Palin
http://youtu.be/CsnrIVj9IbM
Reality_Check©
2008-10-04 06:29:51 UTC
Permalink
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
I ran into a painter on the job who said that in
his area, mortgage brokers would deposit $30,000
into the account of a client for whom they were
trying to get a loan. The otherwise unqualified
buyer would have instant good credit. After the
loan was granted, the broker pulled his money
out.
Complete BULLSHIT !
Gospel truth, so help me...
Complete BULLSHIT ... not even god can help.
1) Depositing $30,000 doesn't change bad credit
into "instant good credit", in fact it doesn't
change your credit score at all. 2) Depositing
$30,000 doesn't change anyone's DTI
ratios from bad to good
3) Depositing $30,000 *does* raise mortgage
underwriter suspicion, and if being used towards
the purchase of the home, would require a verified
source statement as to the exact origin of the
funds, and a sworn statement that the funds were
not borrowed/loaned.
Now take your BULLSHIT back to your "painter"
friend and tell him to EAT IT.
And yet, we are faced with the reality that
Depositing $30,000 of unsourced funds doesn't do FUCK
ALL to create "instant good credit".
Post by TigerLuck
mortgage brokers were able to obtain home loans for
clients who had no money to put down,
Because those LOAN PROGRAMS themselves didn't require
any $$ down, jackass.
Post by TigerLuck
no income
Because those LOAN PROGRAMS themselves didn't require
income.
Post by TigerLuck
and no assets.
BULLSHIT.
The sub-prime mortgage products required THE HOUSE as
the collateralized asset
to secure the loan.
Post by TigerLuck
Some mortgage brokers are exclusively lenders of
their own money and provide a direct source of
mortgage funding to clients.
Then they must be Registered and Licensed as direct
LENDERS and comply with myriad rules, laws and
regulations governing same.
Post by TigerLuck
This money can be used to secure funds from a third
party.
If they qualify according to said third party's
underwriting requirements.
Post by TigerLuck
If the deal is done right, the broker can be paid
back from the third party loan.
Your original "story" is BULLSHIT, continuing to dig
won't get you out of the hole.
Sure it happened.
Complete BULLSHIT.
Post by TigerLuck
I personally know someone who was put into a house
she could not afford because a scumbag mortgage broker
used her own money to help secure a loan without
regard to whether the borrower could really pay it
back.
You really have no idea what you're talking about, do
you numbnuts?
Post by TigerLuck
The scumbag mortgage broker worked the deal
so that her money was never at risk.
And your friend was *forced* to fill out all those
papers, and *forced* to lie, and *forced* to commit all
that fraud, and *forced* to purchase that house, eh?
That's not what I wrote at all.
"I ran into a painter on the job who said that in his
area, mortgage brokers would deposit $30,000 into the
account of a client for whom they were trying to get a
loan. The otherwise unqualified buyer would have instant
good credit. After the loan was granted, the broker
pulled his money out."
Which says nothing about anyone *forcing* anyone to take
out a loan, *jackoff*.
So your "painter" *willingly* commited Bank Fraud and other
Felonies, eh jackass?
Nothing that I wrote even comes close to suggesting that.
Yes, it does. You're just too pig-ignorant to know.
Then perhaps you could point out how?
Wallow in it, moron.
I see you snipped the part about here is where you get huffy.
I'm not wallowing in anything.
Your denial is exceeded only by your abject ignorance.
Scumbag mortgage brokers fueled the real estate bubble that has
the banking system teetering near collapse.
You're dumber than a bucket of dirt.
Keep spewing your lies and ignorance and see if you can
appear even more clueless.
You haven't offered up any other explanation.
1) You're lying.
2) Even if no other explaination was offered, it don't make your
BULLSHIT pack of ignorance and lies any less false.
Hey, Einstein... I'm waiting for your explanation.
Hey Liar, it's already posted, do pay attention.
Post by TigerLuck
Only the mortgage brokers had means, motive and opportunity.
You really are one delusional fuckwit, aren't you?
Post by TigerLuck
They are the common thread in just about every mortgage loan gone bad.
God damn boy, did you mother abuse you into retardation, or were you born
that way?
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Why is that?
You have none?
You're lying again, asswipe.
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Deny all you want to, but you know it is true. Mortgage brokers
work on commission and the more loans they bring in to lending
institution, the more money they make.
Real Estate agents work on commission.
The more appraisals that Appraisers do, the more money they make.
Got any more revelations?
Post by TigerLuck
Instead of acting responsibly they used every lever at their
disposal to keep pushing loans out the door to unqualified buyers.
The buyers had to qualify to get the loans, jackass.
Post by TigerLuck
They are the ones who bear ultimate
responsibility for bring the US to the brink of financial ruin.
The ignorant corrupt fraudulent borrowers are the one's
who LIED and committed FRAUD for their own selfish greed.
Post by TigerLuck
All your denial and protests will not change that reality one bit.
All your lies and bullshit won't make your nonsense any closer to reality.
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
You seem to be the one who is all hot and bothered.
You seem to be the one exposed as a pathetic liar.
Post by TigerLuck
You wouldn't happen to be a scumbag mortgage broker who can't
make a buck in today's market, would you?
You would happen to be a pig-ignorant imbecile who has no
fucking clue about Real Estate or Mortgage transactions.
Post by TigerLuck
That would explain your sour disposition.
It doesn't explain your pig-ignorance.
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
That you managed to read that into what I wrote pretty much
drives home that you are an imbecile who couldn't tell his
right from his left with an instruction manual with lot's of
pictures in in it.
Tell us again how depositing $30,000 gives someone "instant good credit".
Go ahead, liar.
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Now go stand in the corner for 15 minutes and think about
what a raging DUMBASS you are.
This from the ignoramus who claims that depositing $30,000
gives someone "instant good credit".
Post by TigerLuck
I'm going to assume that rest of your post is just as
much a waste of time to read as what I read so far.
It's your ignorant assumptions that cause you to post such
absurdly false bullshit.
Post by TigerLuck
Post by Reality_Check©
Which is COMPELTE BULLSHIT !
Post by TigerLuck
Most people buy a house very very infrequently.
As evidenced by your utter pig-ignorance on the subject.
Post by TigerLuck
Mortgage brokers are in the business of arranging
loans.
Really?
Wow. Such a shocking revelation.
Post by TigerLuck
They work at it every day. It was mortgage brokers,
intent on making a commission who arranged loans that
could not be paid back by the people who were borrowing
Why?
Why arrange loans that "could not be paid back" when
there are MILLIONS of borrowers who can and do
pay back their loans, and won't wreck the brokers'
defaulted loan scores with the underwriters?
Post by TigerLuck
if home prices ceased rising and the
borrowers had to start paying on the principal.
So who forced these idiot borrowers to borrow more
than they could afford, eh?
Post by TigerLuck
Mortgage brokers *knew* this. but kept pushing home
loans out the door.
You mean that BANKS kept offering those mortgage
products, and idiot greedy corrupt borrowers kept
consuming them, eh?
I suppose you blame the U$A's drug problem on Colombia, eh?
Post by TigerLuck
This is what fueled rising home prices. It was a massive
pyramid scheme that was
fueled by mortgage brokers greed for commission money.
No, it was fueled by inbred morons, fools and imbeciles
like you who have no fucking clue, and were willing and
eager to commit FRAUD and other FELONIES so they could
have the illusion they weren't the losers they actually
are.
Now tell us again, jackass, how depositing $30,000 gives
someone "instant good credit". Or does that only work for
"painters" ?
LOL!
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
It is the scumbag mortgage
brokers who are the real villains in this mess,
You really have no fucking clue what you're yammering
about, do you jackass?
Post by TigerLuck
using fraudulent and crooked methods to get people to
sign on the dotted line
You mean where the *borrower* signs and declares, under
PENALTY of PERJURY that
that everything contaned in the Mortgage
Application/Loan Documents/Financial Statemets/
HUD Declaration and Purchase Agreement is TRUE and CORRECT ?
Post by TigerLuck
for interest only loans that they could not possibly
pay back the principal on,
I pay back principal on my "interest only" loan(s) all
the time.
Post by TigerLuck
promising them riches if they only held onto the house
for 6 months to a year.
So these friends of yours were pig-ignorant imbeciles
... as well as primary actors in Bank Fraud, Mail
Fraud, and various other FELONIES, eh?
Post by TigerLuck
You know it and I know and now a few other people know
it as well.
I know your original "story" is complete BULLSHIT.
Post by TigerLuck
Thanks for helping get the message out.
Keep digging, jackass ... eventually you'll come out
the other side ...
TigerLuck
2008-10-04 06:37:46 UTC
Permalink
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
I ran into a painter on the job who said that in
his area, mortgage brokers would deposit $30,000
into the account of a client for whom they were
trying to get a loan. The otherwise unqualified
buyer would have instant good credit. After the
loan was granted, the broker pulled his money
out.
Complete BULLSHIT !
Gospel truth, so help me...
Complete BULLSHIT ... not even god can help.
1) Depositing $30,000 doesn't change bad credit
into "instant good credit", in fact it doesn't
change your credit score at all. 2) Depositing
$30,000 doesn't change anyone's DTI
ratios from bad to good
3) Depositing $30,000 *does* raise mortgage
underwriter suspicion, and if being used towards
the purchase of the home, would require a verified
source statement as to the exact origin of the
funds, and a sworn statement that the funds were
not borrowed/loaned.
Now take your BULLSHIT back to your "painter"
friend and tell him to EAT IT.
And yet, we are faced with the reality that
Depositing $30,000 of unsourced funds doesn't do FUCK
ALL to create "instant good credit".
Post by TigerLuck
mortgage brokers were able to obtain home loans for
clients who had no money to put down,
Because those LOAN PROGRAMS themselves didn't require
any $$ down, jackass.
Post by TigerLuck
no income
Because those LOAN PROGRAMS themselves didn't require
income.
Post by TigerLuck
and no assets.
BULLSHIT.
The sub-prime mortgage products required THE HOUSE as
the collateralized asset
to secure the loan.
Post by TigerLuck
Some mortgage brokers are exclusively lenders of
their own money and provide a direct source of
mortgage funding to clients.
Then they must be Registered and Licensed as direct
LENDERS and comply with myriad rules, laws and
regulations governing same.
Post by TigerLuck
This money can be used to secure funds from a third
party.
If they qualify according to said third party's
underwriting requirements.
Post by TigerLuck
If the deal is done right, the broker can be paid
back from the third party loan.
Your original "story" is BULLSHIT, continuing to dig
won't get you out of the hole.
Sure it happened.
Complete BULLSHIT.
Post by TigerLuck
I personally know someone who was put into a house
she could not afford because a scumbag mortgage broker
used her own money to help secure a loan without
regard to whether the borrower could really pay it
back.
You really have no idea what you're talking about, do
you numbnuts?
Post by TigerLuck
The scumbag mortgage broker worked the deal
so that her money was never at risk.
And your friend was *forced* to fill out all those
papers, and *forced* to lie, and *forced* to commit all
that fraud, and *forced* to purchase that house, eh?
That's not what I wrote at all.
"I ran into a painter on the job who said that in his
area, mortgage brokers would deposit $30,000 into the
account of a client for whom they were trying to get a
loan. The otherwise unqualified buyer would have instant
good credit. After the loan was granted, the broker
pulled his money out."
Which says nothing about anyone *forcing* anyone to take
out a loan, *jackoff*.
So your "painter" *willingly* commited Bank Fraud and other
Felonies, eh jackass?
Nothing that I wrote even comes close to suggesting that.
Yes, it does. You're just too pig-ignorant to know.
Then perhaps you could point out how?
Wallow in it, moron.
I see you snipped the part about here is where you get huffy.
I'm not wallowing in anything.
Your denial is exceeded only by your abject ignorance.
Scumbag mortgage brokers fueled the real estate bubble that has
the banking system teetering near collapse.
You're dumber than a bucket of dirt.
Keep spewing your lies and ignorance and see if you can
appear even more clueless.
You haven't offered up any other explanation.
1) You're lying.
2) Even if no other explaination was offered, it don't make your
BULLSHIT pack of ignorance and lies any less false.
Hey, Einstein... I'm waiting for your explanation.
Hey Liar, it's already posted, do pay attention.
No, you didn't.

You didn't post a single alternate explanation for how so many hundreds
of thousands, maybe millions, of mortgages came to be granted to people
who had neither the means nor the will to pay them back.

Not a single explanation.
Post by Reality_Check©
Post by TigerLuck
Only the mortgage brokers had means, motive and opportunity.
You really are one delusional fuckwit, aren't you?
Post by TigerLuck
They are the common thread in just about every mortgage loan gone bad.
God damn boy, did you mother abuse you into retardation, or were you born
that way?
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Why is that?
You have none?
You're lying again, asswipe.
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Deny all you want to, but you know it is true. Mortgage brokers
work on commission and the more loans they bring in to lending
institution, the more money they make.
Real Estate agents work on commission.
The more appraisals that Appraisers do, the more money they make.
Got any more revelations?
Post by TigerLuck
Instead of acting responsibly they used every lever at their
disposal to keep pushing loans out the door to unqualified buyers.
The buyers had to qualify to get the loans, jackass.
Post by TigerLuck
They are the ones who bear ultimate
responsibility for bring the US to the brink of financial ruin.
The ignorant corrupt fraudulent borrowers are the one's
who LIED and committed FRAUD for their own selfish greed.
Post by TigerLuck
All your denial and protests will not change that reality one bit.
All your lies and bullshit won't make your nonsense any closer to reality.
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
You seem to be the one who is all hot and bothered.
You seem to be the one exposed as a pathetic liar.
Post by TigerLuck
You wouldn't happen to be a scumbag mortgage broker who can't
make a buck in today's market, would you?
You would happen to be a pig-ignorant imbecile who has no
fucking clue about Real Estate or Mortgage transactions.
Post by TigerLuck
That would explain your sour disposition.
It doesn't explain your pig-ignorance.
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
That you managed to read that into what I wrote pretty much
drives home that you are an imbecile who couldn't tell his
right from his left with an instruction manual with lot's of
pictures in in it.
Tell us again how depositing $30,000 gives someone "instant
good credit".
Go ahead, liar.
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Now go stand in the corner for 15 minutes and think about
what a raging DUMBASS you are.
This from the ignoramus who claims that depositing $30,000
gives someone "instant good credit".
Post by TigerLuck
I'm going to assume that rest of your post is just as
much a waste of time to read as what I read so far.
It's your ignorant assumptions that cause you to post such
absurdly false bullshit.
Post by TigerLuck
Post by Reality_Check©
Which is COMPELTE BULLSHIT !
Post by TigerLuck
Most people buy a house very very infrequently.
As evidenced by your utter pig-ignorance on the subject.
Post by TigerLuck
Mortgage brokers are in the business of arranging
loans.
Really?
Wow. Such a shocking revelation.
Post by TigerLuck
They work at it every day. It was mortgage brokers,
intent on making a commission who arranged loans that
could not be paid back by the people who were borrowing
Why?
Why arrange loans that "could not be paid back" when
there are MILLIONS of borrowers who can and do
pay back their loans, and won't wreck the brokers'
defaulted loan scores with the underwriters?
Post by TigerLuck
if home prices ceased rising and the
borrowers had to start paying on the principal.
So who forced these idiot borrowers to borrow more
than they could afford, eh?
Post by TigerLuck
Mortgage brokers *knew* this. but kept pushing home
loans out the door.
You mean that BANKS kept offering those mortgage
products, and idiot greedy corrupt borrowers kept
consuming them, eh?
I suppose you blame the U$A's drug problem on Colombia, eh?
Post by TigerLuck
This is what fueled rising home prices. It was a massive
pyramid scheme that was
fueled by mortgage brokers greed for commission money.
No, it was fueled by inbred morons, fools and imbeciles
like you who have no fucking clue, and were willing and
eager to commit FRAUD and other FELONIES so they could
have the illusion they weren't the losers they actually
are.
Now tell us again, jackass, how depositing $30,000 gives
someone "instant good credit". Or does that only work for
"painters" ?
LOL!
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
It is the scumbag mortgage
brokers who are the real villains in this mess,
You really have no fucking clue what you're yammering
about, do you jackass?
Post by TigerLuck
using fraudulent and crooked methods to get people to
sign on the dotted line
You mean where the *borrower* signs and declares, under
PENALTY of PERJURY that
that everything contaned in the Mortgage
Application/Loan Documents/Financial Statemets/
HUD Declaration and Purchase Agreement is TRUE and
CORRECT ?
Post by TigerLuck
for interest only loans that they could not possibly
pay back the principal on,
I pay back principal on my "interest only" loan(s) all
the time.
Post by TigerLuck
promising them riches if they only held onto the house
for 6 months to a year.
So these friends of yours were pig-ignorant imbeciles
... as well as primary actors in Bank Fraud, Mail
Fraud, and various other FELONIES, eh?
Post by TigerLuck
You know it and I know and now a few other people know
it as well.
I know your original "story" is complete BULLSHIT.
Post by TigerLuck
Thanks for helping get the message out.
Keep digging, jackass ... eventually you'll come out
the other side ...
--
Sinatra & Sarah do Witchcraft
http://youtu.be/rqs_2CVcWb0

Meet Pastor Muthee -- the man who laid hands on Sarah Palin
http://youtu.be/CsnrIVj9IbM
Reality_Check©
2008-10-04 06:47:48 UTC
Permalink
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
I ran into a painter on the job who said that
in his area, mortgage brokers would deposit
$30,000 into the account of a client for whom
they were trying to get a loan. The otherwise
unqualified buyer would have instant good
credit. After the loan was granted, the
broker pulled his money out.
Complete BULLSHIT !
Gospel truth, so help me...
Complete BULLSHIT ... not even god can help.
1) Depositing $30,000 doesn't change bad credit
into "instant good credit", in fact it doesn't
change your credit score at all. 2) Depositing
$30,000 doesn't change anyone's DTI
ratios from bad to good
3) Depositing $30,000 *does* raise mortgage
underwriter suspicion, and if being used towards
the purchase of the home, would require a
verified source statement as to the exact origin
of the funds, and a sworn statement that the
funds were not borrowed/loaned.
Now take your BULLSHIT back to your "painter"
friend and tell him to EAT IT.
And yet, we are faced with the reality that
Depositing $30,000 of unsourced funds doesn't do
FUCK ALL to create "instant good credit".
Post by TigerLuck
mortgage brokers were able to obtain home loans
for clients who had no money to put down,
Because those LOAN PROGRAMS themselves didn't
require any $$ down, jackass.
Post by TigerLuck
no income
Because those LOAN PROGRAMS themselves didn't
require income.
Post by TigerLuck
and no assets.
BULLSHIT.
The sub-prime mortgage products required THE HOUSE
as the collateralized asset
to secure the loan.
Post by TigerLuck
Some mortgage brokers are exclusively lenders of
their own money and provide a direct source of
mortgage funding to clients.
Then they must be Registered and Licensed as direct
LENDERS and comply with myriad rules, laws and
regulations governing same.
Post by TigerLuck
This money can be used to secure funds from a
third party.
If they qualify according to said third party's
underwriting requirements.
Post by TigerLuck
If the deal is done right, the broker can be paid
back from the third party loan.
Your original "story" is BULLSHIT, continuing to
dig won't get you out of the hole.
Sure it happened.
Complete BULLSHIT.
Post by TigerLuck
I personally know someone who was put into a house
she could not afford because a scumbag mortgage
broker used her own money to help secure a loan
without regard to whether the borrower could really
pay it back.
You really have no idea what you're talking about, do
you numbnuts?
Post by TigerLuck
The scumbag mortgage broker worked the deal
so that her money was never at risk.
And your friend was *forced* to fill out all those
papers, and *forced* to lie, and *forced* to commit
all that fraud, and *forced* to purchase that house,
eh?
That's not what I wrote at all.
"I ran into a painter on the job who said that in his
area, mortgage brokers would deposit $30,000 into the
account of a client for whom they were trying to get a
loan. The otherwise unqualified buyer would have
instant good credit. After the loan was granted, the
broker pulled his money out."
Which says nothing about anyone *forcing* anyone to take
out a loan, *jackoff*.
So your "painter" *willingly* commited Bank Fraud and
other Felonies, eh jackass?
Nothing that I wrote even comes close to suggesting that.
Yes, it does. You're just too pig-ignorant to know.
Then perhaps you could point out how?
Wallow in it, moron.
I see you snipped the part about here is where you get huffy.
I'm not wallowing in anything.
Your denial is exceeded only by your abject ignorance.
Scumbag mortgage brokers fueled the real estate bubble that has
the banking system teetering near collapse.
You're dumber than a bucket of dirt.
Keep spewing your lies and ignorance and see if you can
appear even more clueless.
You haven't offered up any other explanation.
1) You're lying.
2) Even if no other explaination was offered, it don't make your
BULLSHIT pack of ignorance and lies any less false.
Hey, Einstein... I'm waiting for your explanation.
Hey Liar, it's already posted, do pay attention.
No, you didn't.
You're lying again.
Post by TigerLuck
You didn't post a single alternate explanation for how so many
hundreds of thousands, maybe millions, of mortgages came to be
granted to people who had neither the means nor the will to pay them
back.
You're lying again, you read, and evaded the uncomfortable answers
in the other post.
Post by TigerLuck
Not a single explanation.
Repeating your lies won't make them true.
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Only the mortgage brokers had means, motive and opportunity.
You really are one delusional fuckwit, aren't you?
Post by TigerLuck
They are the common thread in just about every mortgage loan gone bad.
God damn boy, did you mother abuse you into retardation, or were you
born that way?
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Why is that?
You have none?
You're lying again, asswipe.
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Deny all you want to, but you know it is true. Mortgage brokers
work on commission and the more loans they bring in to lending
institution, the more money they make.
Real Estate agents work on commission.
The more appraisals that Appraisers do, the more money they make.
Got any more revelations?
Post by TigerLuck
Instead of acting responsibly they used every lever at their
disposal to keep pushing loans out the door to unqualified buyers.
The buyers had to qualify to get the loans, jackass.
Post by TigerLuck
They are the ones who bear ultimate
responsibility for bring the US to the brink of financial ruin.
The ignorant corrupt fraudulent borrowers are the one's
who LIED and committed FRAUD for their own selfish greed.
Post by TigerLuck
All your denial and protests will not change that reality one bit.
All your lies and bullshit won't make your nonsense any closer to reality.
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
You seem to be the one who is all hot and bothered.
You seem to be the one exposed as a pathetic liar.
Post by TigerLuck
You wouldn't happen to be a scumbag mortgage broker who can't
make a buck in today's market, would you?
You would happen to be a pig-ignorant imbecile who has no
fucking clue about Real Estate or Mortgage transactions.
Post by TigerLuck
That would explain your sour disposition.
It doesn't explain your pig-ignorance.
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
That you managed to read that into what I wrote pretty
much drives home that you are an imbecile who couldn't
tell his right from his left with an instruction manual
with lot's of pictures in in it.
Tell us again how depositing $30,000 gives someone "instant
good credit".
Go ahead, liar.
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Now go stand in the corner for 15 minutes and think
about what a raging DUMBASS you are.
This from the ignoramus who claims that depositing
$30,000 gives someone "instant good credit".
Post by TigerLuck
I'm going to assume that rest of your post is just as
much a waste of time to read as what I read so far.
It's your ignorant assumptions that cause you to post
such absurdly false bullshit.
Post by TigerLuck
Post by Reality_Check©
Which is COMPELTE BULLSHIT !
Post by TigerLuck
Most people buy a house very very infrequently.
As evidenced by your utter pig-ignorance on the
subject.
Post by TigerLuck
Mortgage brokers are in the business of arranging
loans.
Really?
Wow. Such a shocking revelation.
Post by TigerLuck
They work at it every day. It was mortgage brokers,
intent on making a commission who arranged loans that
could not be paid back by the people who were
borrowing Why?
Why arrange loans that "could not be paid back" when
there are MILLIONS of borrowers who can and do
pay back their loans, and won't wreck the brokers'
defaulted loan scores with the underwriters?
Post by TigerLuck
if home prices ceased rising and the
borrowers had to start paying on the principal.
So who forced these idiot borrowers to borrow more
than they could afford, eh?
Post by TigerLuck
Mortgage brokers *knew* this. but kept pushing home
loans out the door.
You mean that BANKS kept offering those mortgage
products, and idiot greedy corrupt borrowers kept
consuming them, eh?
I suppose you blame the U$A's drug problem on Colombia, eh?
Post by TigerLuck
This is what fueled rising home prices. It was a
massive pyramid scheme that was
fueled by mortgage brokers greed for commission money.
No, it was fueled by inbred morons, fools and imbeciles
like you who have no fucking clue, and were willing and
eager to commit FRAUD and other FELONIES so they could
have the illusion they weren't the losers they actually
are.
Now tell us again, jackass, how depositing $30,000
gives someone "instant good credit". Or does that only
work for "painters" ?
LOL!
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
It is the scumbag mortgage
brokers who are the real villains in this mess,
You really have no fucking clue what you're yammering
about, do you jackass?
Post by TigerLuck
using fraudulent and crooked methods to get people
to sign on the dotted line
You mean where the *borrower* signs and declares,
under PENALTY of PERJURY that
that everything contaned in the Mortgage
Application/Loan Documents/Financial Statemets/
HUD Declaration and Purchase Agreement is TRUE and
CORRECT ?
Post by TigerLuck
for interest only loans that they could not possibly
pay back the principal on,
I pay back principal on my "interest only" loan(s)
all the time.
Post by TigerLuck
promising them riches if they only held onto the
house for 6 months to a year.
So these friends of yours were pig-ignorant imbeciles
... as well as primary actors in Bank Fraud, Mail
Fraud, and various other FELONIES, eh?
Post by TigerLuck
You know it and I know and now a few other people
know it as well.
I know your original "story" is complete BULLSHIT.
Post by TigerLuck
Thanks for helping get the message out.
Keep digging, jackass ... eventually you'll come out
the other side ...
Jorge Duhbya Arbusto, POTUS (Retired)
2008-10-04 17:34:41 UTC
Permalink
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
I ran into a painter on the job who said that
in his area, mortgage brokers would deposit
$30,000 into the account of a client for whom
they were trying to get a loan. The otherwise
unqualified buyer would have instant good
credit. After the loan was granted, the
broker pulled his money out.
Complete BULLSHIT !
Gospel truth, so help me...
Complete BULLSHIT ... not even god can help.
1) Depositing $30,000 doesn't change bad credit
into "instant good credit", in fact it doesn't
change your credit score at all. 2) Depositing
$30,000 doesn't change anyone's DTI
ratios from bad to good
3) Depositing $30,000 *does* raise mortgage
underwriter suspicion, and if being used towards
the purchase of the home, would require a
verified source statement as to the exact origin
of the funds, and a sworn statement that the
funds were not borrowed/loaned.
Now take your BULLSHIT back to your "painter"
friend and tell him to EAT IT.
And yet, we are faced with the reality that
Depositing $30,000 of unsourced funds doesn't do
FUCK ALL to create "instant good credit".
Post by TigerLuck
mortgage brokers were able to obtain home loans
for clients who had no money to put down,
Because those LOAN PROGRAMS themselves didn't
require any $$ down, jackass.
Post by TigerLuck
no income
Because those LOAN PROGRAMS themselves didn't
require income.
Post by TigerLuck
and no assets.
BULLSHIT.
The sub-prime mortgage products required THE HOUSE
as the collateralized asset
to secure the loan.
Post by TigerLuck
Some mortgage brokers are exclusively lenders of
their own money and provide a direct source of
mortgage funding to clients.
Then they must be Registered and Licensed as direct
LENDERS and comply with myriad rules, laws and
regulations governing same.
Post by TigerLuck
This money can be used to secure funds from a
third party.
If they qualify according to said third party's
underwriting requirements.
Post by TigerLuck
If the deal is done right, the broker can be paid
back from the third party loan.
Your original "story" is BULLSHIT, continuing to
dig won't get you out of the hole.
Sure it happened.
Complete BULLSHIT.
Post by TigerLuck
I personally know someone who was put into a house
she could not afford because a scumbag mortgage
broker used her own money to help secure a loan
without regard to whether the borrower could really
pay it back.
You really have no idea what you're talking about, do
you numbnuts?
Post by TigerLuck
The scumbag mortgage broker worked the deal
so that her money was never at risk.
And your friend was *forced* to fill out all those
papers, and *forced* to lie, and *forced* to commit
all that fraud, and *forced* to purchase that house,
eh?
That's not what I wrote at all.
"I ran into a painter on the job who said that in his
area, mortgage brokers would deposit $30,000 into the
account of a client for whom they were trying to get a
loan. The otherwise unqualified buyer would have
instant good credit. After the loan was granted, the
broker pulled his money out."
Which says nothing about anyone *forcing* anyone to take
out a loan, *jackoff*.
So your "painter" *willingly* commited Bank Fraud and
other Felonies, eh jackass?
Nothing that I wrote even comes close to suggesting that.
Yes, it does. You're just too pig-ignorant to know.
Then perhaps you could point out how?
Wallow in it, moron.
I see you snipped the part about here is where you get huffy.
I'm not wallowing in anything.
Your denial is exceeded only by your abject ignorance.
Scumbag mortgage brokers fueled the real estate bubble that has
the banking system teetering near collapse.
You're dumber than a bucket of dirt.
Keep spewing your lies and ignorance and see if you can
appear even more clueless.
You haven't offered up any other explanation.
1) You're lying.
2) Even if no other explaination was offered, it don't make your
BULLSHIT pack of ignorance and lies any less false.
Hey, Einstein... I'm waiting for your explanation.
Hey Liar, it's already posted, do pay attention.
No, you didn't.
You didn't post a single alternate explanation for how so many
hundreds of thousands, maybe millions, of mortgages came to be
granted to people who had neither the means nor the will to pay them
back.
Not a single explanation.
Here's the explanation. Take the time to download and read it:

http://www.independent.org/publications/policy_reports/detail.asp?type=full&id=30
r***@comcast.net
2008-10-04 19:08:53 UTC
Permalink
On Sat, 4 Oct 2008 12:34:41 -0500, "Jorge Duhbya Arbusto, POTUS
Post by Jorge Duhbya Arbusto, POTUS (Retired)
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Keep spewing your lies and ignorance and see if you can
appear even more clueless.
You haven't offered up any other explanation.
1) You're lying.
2) Even if no other explaination was offered, it don't make your
BULLSHIT pack of ignorance and lies any less false.
Hey, Einstein... I'm waiting for your explanation.
Hey Liar, it's already posted, do pay attention.
No, you didn't.
You didn't post a single alternate explanation for how so many
hundreds of thousands, maybe millions, of mortgages came to be
granted to people who had neither the means nor the will to pay them
back.
Not a single explanation.
http://www.independent.org/publications/policy_reports/detail.asp?type=full&id=30
LOL. from this think tank?

Board of Directors

* Gilbert I. Collins
Private Equity Manager
* Peter A. Howley
Co-Founder, IP Wireless Inc.
* Isabella Speakman Johnson
President, Curran Foundation
* W. Dieter Tede
Owner, Hopper Creek Winery
* David J. Theroux
Founder, President and Chief Executive Officer, The Independent
Institute
* Mary L. G. Theroux
Former Chairman, Garvey International, Inc.
* Sally von Behren
Businesswoman and Philanthropist


In Memoriam Board of Directors

* Johan F. Blokker
President and Chief Executive Officer, Luxcom, Inc.
* John S. Fay
President, Piney Woods Corporation
* A. Neil McLeod
Founding President, Liberty Fund, Inc.
* James P. Miscoll
Vice Chairman, Bank of America
* Willard A. Speakman
President and Chief Executive Officer, Speakman Company
TigerLuck
2008-10-04 06:43:20 UTC
Permalink
Here... let some of these scumbag mortgage brokers tell you the story in
their own words:

The Giant Pool of Money

A special program about the housing crisis produced in a special
collaboration with NPR News. We explain it all to you. What does the
housing crisis have to do with the turmoil on Wall Street? Why did banks
make half-million dollar loans to people without jobs or income? And why
is everyone talking so much about the 1930s? It all comes back to the
Giant Pool of Money.

http://www.thislife.org/Radio_Episode.aspx?sched=1242

Click on the "Full Episode" link.
--
Sinatra & Sarah do Witchcraft
http://youtu.be/rqs_2CVcWb0

Meet Pastor Muthee -- the man who laid hands on Sarah Palin
http://youtu.be/CsnrIVj9IbM
Jorge Duhbya Arbusto, POTUS (Retired)
2008-10-04 17:35:37 UTC
Permalink
Post by TigerLuck
Here... let some of these scumbag mortgage brokers tell you the story
The Giant Pool of Money
A special program about the housing crisis produced in a special
collaboration with NPR News. We explain it all to you. What does the
housing crisis have to do with the turmoil on Wall Street? Why did
banks make half-million dollar loans to people without jobs or
income? And why is everyone talking so much about the 1930s? It all
comes back to the Giant Pool of Money.
http://www.thislife.org/Radio_Episode.aspx?sched=1242
Click on the "Full Episode" link.
Read the document at this link:

http://www.independent.org/publications/policy_reports/detail.asp?type=full&id=30
Jorge Duhbya Arbusto, POTUS (Retired)
2008-10-04 17:33:43 UTC
Permalink
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
I ran into a painter on the job who said that in
his area, mortgage brokers would deposit $30,000
into the account of a client for whom they were
trying to get a loan. The otherwise unqualified
buyer would have instant good credit. After the
loan was granted, the broker pulled his money
out.
Complete BULLSHIT !
Gospel truth, so help me...
Complete BULLSHIT ... not even god can help.
1) Depositing $30,000 doesn't change bad credit
into "instant good credit", in fact it doesn't
change your credit score at all. 2) Depositing
$30,000 doesn't change anyone's DTI
ratios from bad to good
3) Depositing $30,000 *does* raise mortgage
underwriter suspicion, and if being used towards
the purchase of the home, would require a verified
source statement as to the exact origin of the
funds, and a sworn statement that the funds were
not borrowed/loaned.
Now take your BULLSHIT back to your "painter"
friend and tell him to EAT IT.
And yet, we are faced with the reality that
Depositing $30,000 of unsourced funds doesn't do FUCK
ALL to create "instant good credit".
Post by TigerLuck
mortgage brokers were able to obtain home loans for
clients who had no money to put down,
Because those LOAN PROGRAMS themselves didn't require
any $$ down, jackass.
Post by TigerLuck
no income
Because those LOAN PROGRAMS themselves didn't require
income.
Post by TigerLuck
and no assets.
BULLSHIT.
The sub-prime mortgage products required THE HOUSE as
the collateralized asset
to secure the loan.
Post by TigerLuck
Some mortgage brokers are exclusively lenders of
their own money and provide a direct source of
mortgage funding to clients.
Then they must be Registered and Licensed as direct
LENDERS and comply with myriad rules, laws and
regulations governing same.
Post by TigerLuck
This money can be used to secure funds from a third
party.
If they qualify according to said third party's
underwriting requirements.
Post by TigerLuck
If the deal is done right, the broker can be paid
back from the third party loan.
Your original "story" is BULLSHIT, continuing to dig
won't get you out of the hole.
Sure it happened.
Complete BULLSHIT.
Post by TigerLuck
I personally know someone who was put into a house
she could not afford because a scumbag mortgage broker
used her own money to help secure a loan without
regard to whether the borrower could really pay it
back.
You really have no idea what you're talking about, do
you numbnuts?
Post by TigerLuck
The scumbag mortgage broker worked the deal
so that her money was never at risk.
And your friend was *forced* to fill out all those
papers, and *forced* to lie, and *forced* to commit all
that fraud, and *forced* to purchase that house, eh?
That's not what I wrote at all.
"I ran into a painter on the job who said that in his
area, mortgage brokers would deposit $30,000 into the
account of a client for whom they were trying to get a
loan. The otherwise unqualified buyer would have instant
good credit. After the loan was granted, the broker
pulled his money out."
Which says nothing about anyone *forcing* anyone to take
out a loan, *jackoff*.
So your "painter" *willingly* commited Bank Fraud and other
Felonies, eh jackass?
Nothing that I wrote even comes close to suggesting that.
Yes, it does. You're just too pig-ignorant to know.
Then perhaps you could point out how?
Wallow in it, moron.
I see you snipped the part about here is where you get huffy.
I'm not wallowing in anything.
Your denial is exceeded only by your abject ignorance.
Scumbag mortgage brokers fueled the real estate bubble that has
the banking system teetering near collapse.
You're dumber than a bucket of dirt.
Keep spewing your lies and ignorance and see if you can
appear even more clueless.
You haven't offered up any other explanation.
1) You're lying.
2) Even if no other explaination was offered, it don't make your
BULLSHIT pack of ignorance and lies any less false.
Hey, Einstein... I'm waiting for your explanation.
Only the mortgage brokers had means, motive and opportunity. They are
the common thread in just about every mortgage loan gone bad.
Why are you defending them?
You're trolling, and you're making a fool of yourself.

http://www.independent.org/publications/policy_reports/detail.asp?type=full&id=30
Jorge Duhbya Arbusto, POTUS (Retired)
2008-10-04 17:32:40 UTC
Permalink
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
I ran into a painter on the job who said that in
his area, mortgage brokers would deposit $30,000
into the account of a client for whom they were
trying to get a loan. The otherwise unqualified
buyer would have instant good credit. After the
loan was granted, the broker pulled his money out.
Complete BULLSHIT !
Gospel truth, so help me...
Complete BULLSHIT ... not even god can help.
1) Depositing $30,000 doesn't change bad credit into
"instant good credit", in fact it doesn't change your
credit score at all. 2) Depositing $30,000 doesn't
change anyone's DTI
ratios from bad to good
3) Depositing $30,000 *does* raise mortgage
underwriter suspicion, and if being used towards the
purchase of the home, would require a verified
source statement as to the exact origin of the
funds, and a sworn statement that the funds were not
borrowed/loaned.
Now take your BULLSHIT back to your "painter" friend
and tell him to EAT IT.
And yet, we are faced with the reality that
Depositing $30,000 of unsourced funds doesn't do FUCK
ALL to create "instant good credit".
Post by TigerLuck
mortgage brokers were able to obtain home loans for
clients who had no money to put down,
Because those LOAN PROGRAMS themselves didn't require
any $$ down, jackass.
Post by TigerLuck
no income
Because those LOAN PROGRAMS themselves didn't require income.
Post by TigerLuck
and no assets.
BULLSHIT.
The sub-prime mortgage products required THE HOUSE as
the collateralized asset
to secure the loan.
Post by TigerLuck
Some mortgage brokers are exclusively lenders of their
own money and provide a direct source of mortgage
funding to clients.
Then they must be Registered and Licensed as direct
LENDERS and comply with myriad rules, laws and
regulations governing same.
Post by TigerLuck
This money can be used to secure funds from a third party.
If they qualify according to said third party's
underwriting requirements.
Post by TigerLuck
If the deal is done right, the broker can be paid back
from the third party loan.
Your original "story" is BULLSHIT, continuing to dig
won't get you out of the hole.
Sure it happened.
Complete BULLSHIT.
Post by TigerLuck
I personally know someone who was put into a house
she could not afford because a scumbag mortgage broker
used her own money to help secure a loan without regard
to whether the borrower could really pay it back.
You really have no idea what you're talking about, do you
numbnuts?
Post by TigerLuck
The scumbag mortgage broker worked the deal
so that her money was never at risk.
And your friend was *forced* to fill out all those
papers, and *forced* to lie, and *forced* to commit all
that fraud, and *forced* to purchase that house, eh?
That's not what I wrote at all.
"I ran into a painter on the job who said that in his area,
mortgage brokers would deposit $30,000 into the account of
a client for whom they were trying to get a loan. The
otherwise unqualified buyer would have instant good
credit. After the loan was granted, the broker pulled his
money out."
Which says nothing about anyone *forcing* anyone to take
out a loan, *jackoff*.
So your "painter" *willingly* commited Bank Fraud and other
Felonies, eh jackass?
Nothing that I wrote even comes close to suggesting that.
Yes, it does. You're just too pig-ignorant to know.
Then perhaps you could point out how?
Wallow in it, moron.
I see you snipped the part about here is where you get huffy.
I'm not wallowing in anything.
Your denial is exceeded only by your abject ignorance.
Scumbag mortgage brokers fueled the real estate bubble that has the
banking system teetering near collapse.
You're dumber than a bucket of dirt.
Keep spewing your lies and ignorance and see if you can
appear even more clueless.
You haven't offered up any other explanation.
Why is that?
You have none?
Download the document at this link. It is a non-partisan, non-racist
discussion of the issue.

http://www.independent.org/publications/policy_reports/detail.asp?type=full&id=30
Jorge Duhbya Arbusto, POTUS (Retired)
2008-10-04 18:22:01 UTC
Permalink
Both you and TigerLuck need to read this paper carefully. With the lowering
of mortgage qualifications standards, it became commonplace for builders of
low income housing to give the downpayment to applicants, using non profit
organizations as fronts for the gift. They would then use appraisers to
raise the price of the home by an amount equal to the gift. Download
"Anatomy of a Train Wreck". See pages 9 and 10.

http://www.independent.org/publications/policy_reports/detail.asp?type=full&id=30
Reality_Check©
2008-10-05 17:56:57 UTC
Permalink
Post by Jorge Duhbya Arbusto, POTUS (Retired)
Both you and TigerLuck need to read this paper carefully. With the
lowering of mortgage qualifications standards, it became commonplace
for builders of low income housing to give the downpayment to
applicants, using non profit organizations as fronts for the gift.
This scheme was approved by HUD.
Post by Jorge Duhbya Arbusto, POTUS (Retired)
They would then use appraisers to raise the price of the home by an
amount equal to the gift.
This would be a crime on the part of the certified licensed appraisers.
Post by Jorge Duhbya Arbusto, POTUS (Retired)
Download "Anatomy of a Train Wreck". See
pages 9 and 10.
The Down Payment Assistance schemes, approved by HUD, and approved
and accepted by *some* mortgage underwriters, represent only a small
fraction
of the U$ citizen deadbeats who have defaulted on their legal obligations to
repay the $$ *they* borrowed and *spent*.

The primary cause of the "mortgage mess" is the utter greed, avarice and
selfish ignorance of the average Amerikkkan idiot.
Post by Jorge Duhbya Arbusto, POTUS (Retired)
http://www.independent.org/publications/policy_reports/detail.asp?type=full&id=30
r***@comcast.net
2008-10-04 07:19:25 UTC
Permalink
Post by TigerLuck
Which says nothing about anyone *forcing* anyone to take out a loan, *jackoff*.
Realitycheck is the reason they make twit filters. he NEEDS to
believe. he adds nothing to the conversation beyond what he needs to
believe.

DOn't waste time on him.
Clave
2008-10-04 07:23:05 UTC
Permalink
Post by r***@comcast.net
Post by TigerLuck
Which says nothing about anyone *forcing* anyone to take out a loan, *jackoff*.
Realitycheck is the reason they make twit filters. he NEEDS to
believe. he adds nothing to the conversation beyond what he needs to
believe.
DOn't waste time on him.
I killfiled *both* of these fuckheads.

Jim
r***@comcast.net
2008-10-04 07:29:22 UTC
Permalink
On Sat, 4 Oct 2008 00:23:05 -0700, "Clave"
Post by Clave
Post by r***@comcast.net
Post by TigerLuck
Which says nothing about anyone *forcing* anyone to take out a loan, *jackoff*.
Realitycheck is the reason they make twit filters. he NEEDS to
believe. he adds nothing to the conversation beyond what he needs to
believe.
DOn't waste time on him.
I killfiled *both* of these fuckheads.
Why?
Jorge Duhbya Arbusto, POTUS (Retired)
2008-10-04 17:36:24 UTC
Permalink
Post by r***@comcast.net
On Sat, 4 Oct 2008 00:23:05 -0700, "Clave"
Post by Clave
On Fri, 03 Oct 2008 21:34:52 -0700, TigerLuck
Post by TigerLuck
Which says nothing about anyone *forcing* anyone to take out a loan, *jackoff*.
Realitycheck is the reason they make twit filters. he NEEDS to
believe. he adds nothing to the conversation beyond what he needs to
believe.
DOn't waste time on him.
I killfiled *both* of these fuckheads.
Why?
Tigerluck is a trolling 'tard.
Governor Swill
2008-10-04 22:00:10 UTC
Permalink
Post by Clave
Post by r***@comcast.net
Post by TigerLuck
Which says nothing about anyone *forcing* anyone to take out a loan, *jackoff*.
Realitycheck is the reason they make twit filters. he NEEDS to
believe. he adds nothing to the conversation beyond what he needs to
believe.
DOn't waste time on him.
I killfiled *both* of these fuckheads.
Why?
Same reason I did which you demonstrate below. :-)

Swill
--
Liberal: I like the puppet on the left.
Conservative: I like the puppet on the right.
Independent: Hey! There's one guy holding both puppets!
Centrist: I hope he knows which puppet's on which hand.
Picture of the day: http://apod.nasa.gov/apod/
Blackwater
2008-10-05 06:45:50 UTC
Permalink
How come it's always assumed that Americans are somehow WORSE
than anyone else ?

Geez ... LOOK at the world sometime. Our failings exist, but
compared to so many others ...........
nys999
2008-10-05 21:50:43 UTC
Permalink
Post by Blackwater
How come it's always assumed that Americans are somehow WORSE
than anyone else ?
Because we start from a higher ethical, and sometimes moral, plane. Places
like Russia and China are already so far down that they haven't as far to
go to hit bottom.
Post by Blackwater
Geez ... LOOK at the world sometime. Our failings exist, but
compared to so many others ...........
Reality_Check©
2008-10-05 22:06:20 UTC
Permalink
Post by Blackwater
How come it's always assumed that Americans are somehow WORSE
than anyone else ?
Proof the U$$A is the "greatest" nation on earth:

Prisoners (per 1,000 people)

United States 4.2
United Kingdom 1.0
Germany 0.8
France 0.8
Austria 0.8
Spain 0.8
Switzerland 0.7
Denmark 0.7
Belgium 0.7
Italy 0.6
Sweden 0.6
Japan 0.4
Netherlands 0.4

Annual reports of police brutality (per 100,000 people)

United States 92.5
United Kingdom 6.0
France 0.7

Death row inmates

United States 2,124
Japan 38
All others 0

Murder rate (per 100,000 people)

United States 8.40
Canada 5.45
Denmark 5.17
France 4.60
Portugal 4.50
Australia 4.48
Germany 4.20
Belgium 2.80
Spain 2.28
Switzerland 2.25
Italy 2.18
Norway 1.99
United Kingdom 1.97
Austria 1.80
Greece 1.76
Sweden 1.73
Japan 1.20
Ireland 0.96
Finland 0.70

Murder rate for males age 15-24 (per 100,000 people)

United States 24.4
Canada 2.6
Sweden 2.3
Norway 2.3
Finland 2.3
Denmark 2.2
United Kingdom 2.0
Netherlands 1.2
Germany 0.9
Japan 0.5

Rape (per 100,000 people)

United States 37.20
Sweden 15.70
Denmark 11.23
Germany 8.60
Norway 7.87
United Kingdom 7.26
Finland 7.20
France 6.77
Switzerland 6.15
Luxembourg 5.00
Spain 4.43
Austria 4.40
Belgium 4.00
Greece 2.40
Ireland 1.72
Japan 1.40
Portugal 1.20

Armed robbery (per 100,000 people)

United States 221
Canada 94
France 90
Belgium 66
United Kingdom 63
Italy 50
Sweden 49
Germany 47
Ireland 46
Denmark 44
Finland 38
Switzerland 23
Norway 22
Greece 7
Japan 1



TYPE OF OFFENSE (Sentenced Pop. Only) - Federal Prisoners

Drug Offenses 59.6%
Robbery 9.8%
Property Offenses 5.5%
Extortion, Fraud, Bribery 6.8%
Violent Offenses 2.7%
Firearms, Explosives, Arson 8.6%
White Collar 1.0%
Immigration 2.8%
Courts or Corrections 0.8%
National Security 0.1%
Continuing Criminal Enterprise 0.8%
Miscellaneous 1.5%



THE INTERNATIONAL EVIDENCE

The U.S. is the most violent society in the industrialized world.
Although it doesn't have the most police per capita, the U.S. does
have the toughest laws and punishments by far. The question of
which came first, the chicken or the egg, is becoming much less relevant as
time
passes; the U.S. has been following this "get tough" approach for decades,
with
no significant reduction of its violent crime rate.


Obesity rates (adults) in 2005 (Source: OECD)

1 - United States: 30.6%
2 - Mexico: 24.2%
3 - United Kingdom: 23%
4 - Slovakia: 22.4%
5 - Greece: 21.9%
6 - Australia: 21.7%
7 - New Zealand: 20.9%
8 - Hungary: 18.8%
9 - Luxembourg: 18.4%
10 - Czech Republic: 14.8%
11 - Canada: 14.3%
12 - Spain: 13.1%
13 - Ireland: 13%
14 - Germany: 12.9%
15 - Finland: 12.8%
16 - Portugal: 12.8%
17 - Iceland: 12.4%
18 - Turkey: 12%
19 - Belgium: 11.7%
20 - Netherlands: 10%
21 - Sweden: 9.7%
22 - Denmark: 9.5%
23 - France: 9.4%
24 - Austria: 9.1%
25 - Italy: 8.5%
26 - Norway: 8.3%
27 - Switzerland: 7.7%
28 - Korea, South: 3.2%
29 - Japan: 3.2%
David Hartung
2008-10-04 10:23:23 UTC
Permalink
Post by TigerLuck
Sure it happened. I personally know someone who was put into a house she
could not afford because a scumbag mortgage broker used her own money to
help secure a loan without regard to whether the borrower could really
pay it back. The scumbag mortgage broker worked the deal so that her
money was never at risk. It is the scumbag mortgage brokers who are the
real villains in this mess, using fraudulent and crooked methods to get
people to sign on the dotted line for interest only loans that they
could not possibly pay back the principal on, promising them riches if
they only held onto the house for 6 months to a year.
You know it and I know and now a few other people know it as well.
Thanks for helping get the message out.
Assuming that your store is true, it would seem to me that the "scumbag"
buyer is every bit as responsible as the "scumbag" mortgage broker.
** Posted from http://www.teranews.com **
N***@Click.com
2008-10-04 18:31:28 UTC
Permalink
On Sat, 04 Oct 2008 05:23:23 -0500, David Hartung
Post by David Hartung
Assuming that your store is true, it would seem to me that the "scumbag"
buyer is every bit as responsible as the "scumbag" mortgage broker.
How's that?

A lot were offered low-intrest loans, no down payment,
and other enticements to get them into housing

The intended use of those Mortages was speculation UP
the wealth and financial chain.

It was never intended to see the re-payment
David Hartung
2008-10-04 18:46:46 UTC
Permalink
Post by N***@Click.com
On Sat, 04 Oct 2008 05:23:23 -0500, David Hartung
Post by David Hartung
Assuming that your store is true, it would seem to me that the "scumbag"
buyer is every bit as responsible as the "scumbag" mortgage broker.
How's that?
A lot were offered low-intrest loans, no down payment,
and other enticements to get them into housing
The intended use of those Mortages was speculation UP
the wealth and financial chain.
It was never intended to see the re-payment
Prove it.
** Posted from http://www.teranews.com **
nys999
2008-10-05 02:25:51 UTC
Permalink
Post by David Hartung
Post by N***@Click.com
On Sat, 04 Oct 2008 05:23:23 -0500, David Hartung
Post by David Hartung
Assuming that your store is true, it would seem to me that the
"scumbag" buyer is every bit as responsible as the "scumbag"
mortgage broker.
How's that?
A lot were offered low-intrest loans, no down payment,
and other enticements to get them into housing
The intended use of those Mortages was speculation UP
the wealth and financial chain.
It was never intended to see the re-payment
Prove it.
** Posted from http://www.teranews.com **
"Prove it"? Oh yeah, another Palin type. "You were raped? Prove it." "That
knife up against your neck? A sex toy."

You have the moral integrity of a pimp running five dollar whores.
Reality_Check©
2008-10-05 18:01:44 UTC
Permalink
Post by N***@Click.com
On Sat, 04 Oct 2008 05:23:23 -0500, David Hartung
Post by David Hartung
Assuming that your store is true, it would seem to me that the
"scumbag" buyer is every bit as responsible as the "scumbag"
mortgage broker.
How's that?
A lot were offered low-intrest loans,
So who forced them to take those loans and spend the $$ ?
Post by N***@Click.com
no down payment,
So who forced then to take such loans and spend the $$ ?
Post by N***@Click.com
and other enticements to get them into housing
So who forced them to purchase homes they couldn't afford?
Post by N***@Click.com
The intended use of those Mortages was speculation UP
the wealth and financial chain.
With speculation comes risk -- sometimes reward, sometimes loss --
now the whining losers who speculated and lost want to blame
the lender for their own ignorance and misfortune.

Booo hoooo hoooo!
OneTwoThree
2008-10-04 16:49:05 UTC
Permalink
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
I ran into a painter on the job who said that in his area, mortgage
brokers would deposit $30,000 into the account of a client for whom
they were trying to get a loan. The otherwise unqualified buyer
would have instant good credit. After the loan was granted, the
broker pulled his money out.
Complete BULLSHIT !
Gospel truth, so help me...
Complete BULLSHIT ... not even god can help.
1) Depositing $30,000 doesn't change bad credit into "instant good credit",
in fact it doesn't change your credit score at all.
2) Depositing $30,000 doesn't change anyone's DTI ratios from bad to good
3) Depositing $30,000 *does* raise mortgage underwriter suspicion, and if
being
used towards the purchase of the home, would require a verified source
statement
as to the exact origin of the funds, and a sworn statement that the funds
were
not borrowed/loaned.
Now take your BULLSHIT back to your "painter" friend and tell him to EAT IT.
And yet, we are faced with the reality that mortgage brokers were able to
obtain home loans for clients who had no money to put down, no income and
no assets.
using "stated income" and paying a couple more points, which were tacked
into the final loan amout.

another trick of the trade was to wrap a couple of years payments into the
loan, so that the buyer could pay the mortgage while maybe fixing up a
little and getting ready to sell in a year for that now infamous 10-20%
"profit"

I'm with the other guy - your story may well be an urban myth, especially as
it was not necessary to do such things during the heat of the RE bubble.
Post by TigerLuck
Some mortgage brokers are exclusively lenders of their own money and
provide a direct source of mortgage funding to clients. This money can be
used to secure funds from a third party. If the deal is done right, the
broker can be paid back from the third party loan.
if they are lending their own money, why would they need to involve a 3rd
party? a LOT of the questionable loans came from third party brokers who
received a commission for finding the client and working the client through
the paperwork process.
Post by TigerLuck
--
Sinatra & Sarah do Witchcraft
http://youtu.be/rqs_2CVcWb0
Meet Pastor Muthee -- the man who laid hands on Sarah Palin
http://youtu.be/CsnrIVj9IbM
Reality_Check©
2008-10-05 18:09:32 UTC
Permalink
Post by OneTwoThree
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
I ran into a painter on the job who said that in his area,
mortgage brokers would deposit $30,000 into the account of a
client for whom they were trying to get a loan. The otherwise
unqualified buyer would have instant good credit. After the loan
was granted, the broker pulled his money out.
Complete BULLSHIT !
Gospel truth, so help me...
Complete BULLSHIT ... not even god can help.
1) Depositing $30,000 doesn't change bad credit into "instant good credit",
in fact it doesn't change your credit score at all.
2) Depositing $30,000 doesn't change anyone's DTI ratios from bad
to good 3) Depositing $30,000 *does* raise mortgage underwriter
suspicion,
and if being
used towards the purchase of the home, would require a verified
source statement
as to the exact origin of the funds, and a sworn statement that the
funds were
not borrowed/loaned.
Now take your BULLSHIT back to your "painter" friend and tell him to EAT IT.
And yet, we are faced with the reality that mortgage brokers were
able to obtain home loans for clients who had no money to put down,
no income and no assets.
using "stated income" and paying a couple more points, which were
tacked into the final loan amout.
Higher costs for higher risks.
Post by OneTwoThree
another trick of the trade was to wrap a couple of years payments
into the loan, so that the buyer could pay the mortgage while maybe
fixing up a little and getting ready to sell in a year for that now
infamous 10-20% "profit"
And MILLIONS of buyers did that successfully.
Post by OneTwoThree
I'm with the other guy - your story may well be an urban myth,
especially as it was not necessary to do such things during the heat
of the RE bubble.
Deadbeats ALWAYS blame other's for their own failures ... it's the
Amerikkkan way !
Post by OneTwoThree
Post by TigerLuck
Some mortgage brokers are exclusively lenders of their own money and
provide a direct source of mortgage funding to clients. This money
can be used to secure funds from a third party. If the deal is done
right, the broker can be paid back from the third party loan.
if they are lending their own money, why would they need to involve a
3rd party?
Exactly. TigerLuck is full of shit.
Post by OneTwoThree
a LOT of the questionable loans came from third party
brokers who received a commission for finding the client and working
the client through the paperwork process.
And EVERY ONE of those loans required the homeowner/borrower
to declare -- numerous times -- under penalty of perjury and/or fraud,
that *all* the information they submitted is TRUE and ACCURATE.

And no one forced these loser homeowners to borrow the $$
and spend it in the first place.

Amerikkan greed and ignorance collided with Reagan/Bu$h/Repugnikkkan
economics.

Yeeeeeeeeee haaaaaaaaaaaaaaaa! Stay the Course!
OneTwoThree
2008-10-06 16:37:50 UTC
Permalink
Post by Reality_Check©
Post by OneTwoThree
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
I ran into a painter on the job who said that in his area,
mortgage brokers would deposit $30,000 into the account of a
client for whom they were trying to get a loan. The otherwise
unqualified buyer would have instant good credit. After the loan
was granted, the broker pulled his money out.
Complete BULLSHIT !
Gospel truth, so help me...
Complete BULLSHIT ... not even god can help.
1) Depositing $30,000 doesn't change bad credit into "instant good credit",
in fact it doesn't change your credit score at all.
2) Depositing $30,000 doesn't change anyone's DTI ratios from bad
to good 3) Depositing $30,000 *does* raise mortgage underwriter
suspicion,
and if being
used towards the purchase of the home, would require a verified
source statement
as to the exact origin of the funds, and a sworn statement that the
funds were
not borrowed/loaned.
Now take your BULLSHIT back to your "painter" friend and tell him to EAT IT.
And yet, we are faced with the reality that mortgage brokers were
able to obtain home loans for clients who had no money to put down,
no income and no assets.
using "stated income" and paying a couple more points, which were
tacked into the final loan amout.
Higher costs for higher risks.
Post by OneTwoThree
another trick of the trade was to wrap a couple of years payments
into the loan, so that the buyer could pay the mortgage while maybe
fixing up a little and getting ready to sell in a year for that now
infamous 10-20% "profit"
And MILLIONS of buyers did that successfully.
Post by OneTwoThree
I'm with the other guy - your story may well be an urban myth,
especially as it was not necessary to do such things during the heat
of the RE bubble.
Deadbeats ALWAYS blame other's for their own failures ... it's the
Amerikkkan way !
Post by OneTwoThree
Post by TigerLuck
Some mortgage brokers are exclusively lenders of their own money and
provide a direct source of mortgage funding to clients. This money
can be used to secure funds from a third party. If the deal is done
right, the broker can be paid back from the third party loan.
if they are lending their own money, why would they need to involve a
3rd party?
Exactly. TigerLuck is full of shit.
Post by OneTwoThree
a LOT of the questionable loans came from third party
brokers who received a commission for finding the client and working
the client through the paperwork process.
And EVERY ONE of those loans required the homeowner/borrower
to declare -- numerous times -- under penalty of perjury and/or fraud,
that *all* the information they submitted is TRUE and ACCURATE.
And no one forced these loser homeowners to borrow the $$
and spend it in the first place.
Amerikkan greed and ignorance collided with Reagan/Bu$h/Repugnikkkan
economics.
there is your own bottom line - everything is the fault of
republicans....... forget the dems who fought stricter regulation of Fannie
and Freedie over the years,,, forget that there were never any republican
repeals of regulations that would otherwise have prevented this mess in the
first place.

the greed was fueled by the RE bubble, which in turn was fueled by certain
market factors and which was subsidized by the Wall Street firms who
securitized those mortgages and then hedged them from here to eternity. Lots
of blame to go around, but "republicans"?

sigh
Post by Reality_Check©
Yeeeeeeeeee haaaaaaaaaaaaaaaa! Stay the Course!
Reality_Check©
2008-10-06 17:26:09 UTC
Permalink
Post by OneTwoThree
Post by Reality_Check©
Post by OneTwoThree
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
I ran into a painter on the job who said that in his area,
mortgage brokers would deposit $30,000 into the account of a
client for whom they were trying to get a loan. The otherwise
unqualified buyer would have instant good credit. After the
loan was granted, the broker pulled his money out.
Complete BULLSHIT !
Gospel truth, so help me...
Complete BULLSHIT ... not even god can help.
1) Depositing $30,000 doesn't change bad credit into "instant good credit",
in fact it doesn't change your credit score at all.
2) Depositing $30,000 doesn't change anyone's DTI ratios from bad
to good 3) Depositing $30,000 *does* raise mortgage underwriter
suspicion,
and if being
used towards the purchase of the home, would require a verified
source statement
as to the exact origin of the funds, and a sworn statement that
the funds were
not borrowed/loaned.
Now take your BULLSHIT back to your "painter" friend and tell him to EAT IT.
And yet, we are faced with the reality that mortgage brokers were
able to obtain home loans for clients who had no money to put down,
no income and no assets.
using "stated income" and paying a couple more points, which were
tacked into the final loan amout.
Higher costs for higher risks.
Post by OneTwoThree
another trick of the trade was to wrap a couple of years payments
into the loan, so that the buyer could pay the mortgage while maybe
fixing up a little and getting ready to sell in a year for that now
infamous 10-20% "profit"
And MILLIONS of buyers did that successfully.
Post by OneTwoThree
I'm with the other guy - your story may well be an urban myth,
especially as it was not necessary to do such things during the heat
of the RE bubble.
Deadbeats ALWAYS blame other's for their own failures ... it's the
Amerikkkan way !
Post by OneTwoThree
Post by TigerLuck
Some mortgage brokers are exclusively lenders of their own money
and provide a direct source of mortgage funding to clients. This
money can be used to secure funds from a third party. If the deal
is done right, the broker can be paid back from the third party
loan.
if they are lending their own money, why would they need to involve
a 3rd party?
Exactly. TigerLuck is full of shit.
Post by OneTwoThree
a LOT of the questionable loans came from third party
brokers who received a commission for finding the client and working
the client through the paperwork process.
And EVERY ONE of those loans required the homeowner/borrower
to declare -- numerous times -- under penalty of perjury and/or
fraud, that *all* the information they submitted is TRUE and
ACCURATE. And no one forced these loser homeowners to borrow the $$
and spend it in the first place.
Amerikkan greed and ignorance collided with Reagan/Bu$h/Repugnikkkan
economics.
there is your own bottom line - everything is the fault of
republicans....... forget the dems who fought stricter regulation of
Fannie and Freedie over the years
You mean the Repugnikkkan controlled Congress implementing
"Reaganomics" for over 20 years?
Post by OneTwoThree
,,, forget that there were never any republican repeals of regulations
that would otherwise have prevented
this mess in the first place.
Prove it.
Post by OneTwoThree
the greed was fueled by the RE bubble, which in turn was fueled by
certain market factors and which was subsidized by the Wall Street
firms who securitized those mortgages and then hedged them from here
to eternity.
That's the way "free market capitalism" works, skippy.

Why do you hate America?
OneTwoThree
2008-10-06 19:05:22 UTC
Permalink
Post by Reality_Check©
Post by OneTwoThree
Post by Reality_Check©
Post by OneTwoThree
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
I ran into a painter on the job who said that in his area,
mortgage brokers would deposit $30,000 into the account of a
client for whom they were trying to get a loan. The otherwise
unqualified buyer would have instant good credit. After the
loan was granted, the broker pulled his money out.
Complete BULLSHIT !
Gospel truth, so help me...
Complete BULLSHIT ... not even god can help.
1) Depositing $30,000 doesn't change bad credit into "instant good credit",
in fact it doesn't change your credit score at all.
2) Depositing $30,000 doesn't change anyone's DTI ratios from bad
to good 3) Depositing $30,000 *does* raise mortgage underwriter
suspicion,
and if being
used towards the purchase of the home, would require a verified
source statement
as to the exact origin of the funds, and a sworn statement that
the funds were
not borrowed/loaned.
Now take your BULLSHIT back to your "painter" friend and tell him to EAT IT.
And yet, we are faced with the reality that mortgage brokers were
able to obtain home loans for clients who had no money to put down,
no income and no assets.
using "stated income" and paying a couple more points, which were
tacked into the final loan amout.
Higher costs for higher risks.
Post by OneTwoThree
another trick of the trade was to wrap a couple of years payments
into the loan, so that the buyer could pay the mortgage while maybe
fixing up a little and getting ready to sell in a year for that now
infamous 10-20% "profit"
And MILLIONS of buyers did that successfully.
Post by OneTwoThree
I'm with the other guy - your story may well be an urban myth,
especially as it was not necessary to do such things during the heat
of the RE bubble.
Deadbeats ALWAYS blame other's for their own failures ... it's the
Amerikkkan way !
Post by OneTwoThree
Post by TigerLuck
Some mortgage brokers are exclusively lenders of their own money
and provide a direct source of mortgage funding to clients. This
money can be used to secure funds from a third party. If the deal
is done right, the broker can be paid back from the third party
loan.
if they are lending their own money, why would they need to involve
a 3rd party?
Exactly. TigerLuck is full of shit.
Post by OneTwoThree
a LOT of the questionable loans came from third party
brokers who received a commission for finding the client and working
the client through the paperwork process.
And EVERY ONE of those loans required the homeowner/borrower
to declare -- numerous times -- under penalty of perjury and/or
fraud, that *all* the information they submitted is TRUE and
ACCURATE. And no one forced these loser homeowners to borrow the $$
and spend it in the first place.
Amerikkan greed and ignorance collided with Reagan/Bu$h/Repugnikkkan
economics.
there is your own bottom line - everything is the fault of
republicans....... forget the dems who fought stricter regulation of
Fannie and Freedie over the years
You mean the Repugnikkkan controlled Congress implementing
"Reaganomics" for over 20 years?
Post by OneTwoThree
,,, forget that there were never any republican repeals of regulations
that would otherwise have prevented
this mess in the first place.
Prove it.
folks like you are the ones making the claim that is was "republican
deregulation" that caused the problem. name some "republican" repeals of
regulations that prevented the lieing, cheating, and stealing that occured?

folks like you made the accusations... so YOU prove it.
Post by Reality_Check©
Post by OneTwoThree
the greed was fueled by the RE bubble, which in turn was fueled by
certain market factors and which was subsidized by the Wall Street
firms who securitized those mortgages and then hedged them from here
to eternity.
That's the way "free market capitalism" works, skippy.
Why do you hate America?
Reality_Check©
2008-10-06 19:06:25 UTC
Permalink
Post by OneTwoThree
Post by Reality_Check©
Post by OneTwoThree
Post by Reality_Check©
Post by OneTwoThree
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
I ran into a painter on the job who said that in his area,
mortgage brokers would deposit $30,000 into the account of a
client for whom they were trying to get a loan. The otherwise
unqualified buyer would have instant good credit. After the
loan was granted, the broker pulled his money out.
Complete BULLSHIT !
Gospel truth, so help me...
Complete BULLSHIT ... not even god can help.
1) Depositing $30,000 doesn't change bad credit into "instant good credit",
in fact it doesn't change your credit score at all.
2) Depositing $30,000 doesn't change anyone's DTI ratios from
bad to good 3) Depositing $30,000 *does* raise mortgage
underwriter suspicion,
and if being
used towards the purchase of the home, would require a verified
source statement
as to the exact origin of the funds, and a sworn statement that
the funds were
not borrowed/loaned.
Now take your BULLSHIT back to your "painter" friend and tell him to EAT IT.
And yet, we are faced with the reality that mortgage brokers were
able to obtain home loans for clients who had no money to put
down, no income and no assets.
using "stated income" and paying a couple more points, which were
tacked into the final loan amout.
Higher costs for higher risks.
Post by OneTwoThree
another trick of the trade was to wrap a couple of years payments
into the loan, so that the buyer could pay the mortgage while
maybe fixing up a little and getting ready to sell in a year for
that now infamous 10-20% "profit"
And MILLIONS of buyers did that successfully.
Post by OneTwoThree
I'm with the other guy - your story may well be an urban myth,
especially as it was not necessary to do such things during the
heat of the RE bubble.
Deadbeats ALWAYS blame other's for their own failures ... it's the
Amerikkkan way !
Post by OneTwoThree
Post by TigerLuck
Some mortgage brokers are exclusively lenders of their own money
and provide a direct source of mortgage funding to clients. This
money can be used to secure funds from a third party. If the deal
is done right, the broker can be paid back from the third party
loan.
if they are lending their own money, why would they need to
involve a 3rd party?
Exactly. TigerLuck is full of shit.
Post by OneTwoThree
a LOT of the questionable loans came from third party
brokers who received a commission for finding the client and
working the client through the paperwork process.
And EVERY ONE of those loans required the homeowner/borrower
to declare -- numerous times -- under penalty of perjury and/or
fraud, that *all* the information they submitted is TRUE and
ACCURATE. And no one forced these loser homeowners to borrow the $$
and spend it in the first place.
Amerikkan greed and ignorance collided with
Reagan/Bu$h/Repugnikkkan economics.
there is your own bottom line - everything is the fault of
republicans....... forget the dems who fought stricter regulation of
Fannie and Freedie over the years
You mean the Repugnikkkan controlled Congress implementing
"Reaganomics" for over 20 years?
Post by OneTwoThree
,,, forget that there were never any republican repeals of
regulations that would otherwise have prevented
this mess in the first place.
Prove it.
folks like you are the ones making the claim that is was "republican
deregulation" that caused the problem.
Why do you hate America ?
OneTwoThree
2008-10-10 22:48:28 UTC
Permalink
Post by Reality_Check©
Post by OneTwoThree
Post by Reality_Check©
Post by OneTwoThree
Post by Reality_Check©
Post by OneTwoThree
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
I ran into a painter on the job who said that in his area,
mortgage brokers would deposit $30,000 into the account of a
client for whom they were trying to get a loan. The otherwise
unqualified buyer would have instant good credit. After the
loan was granted, the broker pulled his money out.
Complete BULLSHIT !
Gospel truth, so help me...
Complete BULLSHIT ... not even god can help.
1) Depositing $30,000 doesn't change bad credit into "instant good credit",
in fact it doesn't change your credit score at all.
2) Depositing $30,000 doesn't change anyone's DTI ratios from
bad to good 3) Depositing $30,000 *does* raise mortgage
underwriter suspicion,
and if being
used towards the purchase of the home, would require a verified
source statement
as to the exact origin of the funds, and a sworn statement that
the funds were
not borrowed/loaned.
Now take your BULLSHIT back to your "painter" friend and tell him to EAT IT.
And yet, we are faced with the reality that mortgage brokers were
able to obtain home loans for clients who had no money to put
down, no income and no assets.
using "stated income" and paying a couple more points, which were
tacked into the final loan amout.
Higher costs for higher risks.
Post by OneTwoThree
another trick of the trade was to wrap a couple of years payments
into the loan, so that the buyer could pay the mortgage while
maybe fixing up a little and getting ready to sell in a year for
that now infamous 10-20% "profit"
And MILLIONS of buyers did that successfully.
Post by OneTwoThree
I'm with the other guy - your story may well be an urban myth,
especially as it was not necessary to do such things during the
heat of the RE bubble.
Deadbeats ALWAYS blame other's for their own failures ... it's the
Amerikkkan way !
Post by OneTwoThree
Post by TigerLuck
Some mortgage brokers are exclusively lenders of their own money
and provide a direct source of mortgage funding to clients. This
money can be used to secure funds from a third party. If the deal
is done right, the broker can be paid back from the third party
loan.
if they are lending their own money, why would they need to
involve a 3rd party?
Exactly. TigerLuck is full of shit.
Post by OneTwoThree
a LOT of the questionable loans came from third party
brokers who received a commission for finding the client and
working the client through the paperwork process.
And EVERY ONE of those loans required the homeowner/borrower
to declare -- numerous times -- under penalty of perjury and/or
fraud, that *all* the information they submitted is TRUE and
ACCURATE. And no one forced these loser homeowners to borrow the $$
and spend it in the first place.
Amerikkan greed and ignorance collided with
Reagan/Bu$h/Repugnikkkan economics.
there is your own bottom line - everything is the fault of
republicans....... forget the dems who fought stricter regulation of
Fannie and Freedie over the years
You mean the Repugnikkkan controlled Congress implementing
"Reaganomics" for over 20 years?
Post by OneTwoThree
,,, forget that there were never any republican repeals of
regulations that would otherwise have prevented
this mess in the first place.
Prove it.
folks like you are the ones making the claim that is was "republican
deregulation" that caused the problem.
Why do you hate America ?
I dont hate America

why are you a moron?


.
_ Prof. Jonez _
2008-10-10 23:10:47 UTC
Permalink
Post by OneTwoThree
Post by Reality_Check©
Post by OneTwoThree
Post by Reality_Check©
Post by OneTwoThree
Post by Reality_Check©
Post by OneTwoThree
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
I ran into a painter on the job who said that in his area,
mortgage brokers would deposit $30,000 into the account of
a client for whom they were trying to get a loan. The
otherwise unqualified buyer would have instant good
credit. After the loan was granted, the broker pulled his
money out.
Complete BULLSHIT !
Gospel truth, so help me...
Complete BULLSHIT ... not even god can help.
1) Depositing $30,000 doesn't change bad credit into "instant good credit",
in fact it doesn't change your credit score at all.
2) Depositing $30,000 doesn't change anyone's DTI ratios from
bad to good 3) Depositing $30,000 *does* raise mortgage
underwriter suspicion,
and if being
used towards the purchase of the home, would require a
verified source statement
as to the exact origin of the funds, and a sworn statement
that the funds were
not borrowed/loaned.
Now take your BULLSHIT back to your "painter" friend and tell
him to EAT IT.
And yet, we are faced with the reality that mortgage brokers
were able to obtain home loans for clients who had no money to
put down, no income and no assets.
using "stated income" and paying a couple more points, which
were tacked into the final loan amout.
Higher costs for higher risks.
Post by OneTwoThree
another trick of the trade was to wrap a couple of years
payments into the loan, so that the buyer could pay the
mortgage while maybe fixing up a little and getting ready to
sell in a year for that now infamous 10-20% "profit"
And MILLIONS of buyers did that successfully.
Post by OneTwoThree
I'm with the other guy - your story may well be an urban myth,
especially as it was not necessary to do such things during the
heat of the RE bubble.
Deadbeats ALWAYS blame other's for their own failures ... it's
the Amerikkkan way !
Post by OneTwoThree
Post by TigerLuck
Some mortgage brokers are exclusively lenders of their own
money and provide a direct source of mortgage funding to
clients. This money can be used to secure funds from a third
party. If the deal is done right, the broker can be paid back
from the third party loan.
if they are lending their own money, why would they need to
involve a 3rd party?
Exactly. TigerLuck is full of shit.
Post by OneTwoThree
a LOT of the questionable loans came from third party
brokers who received a commission for finding the client and
working the client through the paperwork process.
And EVERY ONE of those loans required the homeowner/borrower
to declare -- numerous times -- under penalty of perjury and/or
fraud, that *all* the information they submitted is TRUE and
ACCURATE. And no one forced these loser homeowners to borrow the
$$ and spend it in the first place.
Amerikkan greed and ignorance collided with
Reagan/Bu$h/Repugnikkkan economics.
there is your own bottom line - everything is the fault of
republicans....... forget the dems who fought stricter regulation
of Fannie and Freedie over the years
You mean the Repugnikkkan controlled Congress implementing
"Reaganomics" for over 20 years?
Post by OneTwoThree
,,, forget that there were never any republican repeals of
regulations that would otherwise have prevented
this mess in the first place.
Prove it.
folks like you are the ones making the claim that is was "republican
deregulation" that caused the problem.
Why do you hate America ?
I dont hate America
Yes you do.
Michael Coburn
2008-10-12 08:24:42 UTC
Permalink
Post by _ Prof. Jonez _
Post by OneTwoThree
Post by Reality_Check©
Post by OneTwoThree
Post by Reality_Check©
Post by OneTwoThree
Post by Reality_Check©
Post by OneTwoThree
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
I ran into a painter on the job who said that in his area,
mortgage brokers would deposit $30,000 into the account of a
client for whom they were trying to get a loan. The
otherwise unqualified buyer would have instant good credit.
After the loan was granted, the broker pulled his money out.
Complete BULLSHIT !
Gospel truth, so help me...
Complete BULLSHIT ... not even god can help.
1) Depositing $30,000 doesn't change bad credit into "instant
good credit",
in fact it doesn't change your credit score at all.
2) Depositing $30,000 doesn't change anyone's DTI ratios from
bad to good 3) Depositing $30,000 *does* raise mortgage
underwriter suspicion,
and if being
used towards the purchase of the home, would require a verified
source statement
as to the exact origin of the funds, and a sworn statement that
the funds were
not borrowed/loaned.
Now take your BULLSHIT back to your "painter" friend and tell
him to EAT IT.
And yet, we are faced with the reality that mortgage brokers
were able to obtain home loans for clients who had no money to
put down, no income and no assets.
using "stated income" and paying a couple more points, which were
tacked into the final loan amout.
Higher costs for higher risks.
Post by OneTwoThree
another trick of the trade was to wrap a couple of years payments
into the loan, so that the buyer could pay the mortgage while
maybe fixing up a little and getting ready to sell in a year for
that now infamous 10-20% "profit"
And MILLIONS of buyers did that successfully.
Post by OneTwoThree
I'm with the other guy - your story may well be an urban myth,
especially as it was not necessary to do such things during the
heat of the RE bubble.
Deadbeats ALWAYS blame other's for their own failures ... it's the
Amerikkkan way !
Post by OneTwoThree
Post by TigerLuck
Some mortgage brokers are exclusively lenders of their own money
and provide a direct source of mortgage funding to clients. This
money can be used to secure funds from a third party. If the
deal is done right, the broker can be paid back from the third
party loan.
if they are lending their own money, why would they need to
involve a 3rd party?
Exactly. TigerLuck is full of shit.
Post by OneTwoThree
a LOT of the questionable loans came from third party brokers who
received a commission for finding the client and working the
client through the paperwork process.
And EVERY ONE of those loans required the homeowner/borrower to
declare -- numerous times -- under penalty of perjury and/or
fraud, that *all* the information they submitted is TRUE and
ACCURATE. And no one forced these loser homeowners to borrow the
$$ and spend it in the first place.
Amerikkan greed and ignorance collided with
Reagan/Bu$h/Repugnikkkan economics.
there is your own bottom line - everything is the fault of
republicans....... forget the dems who fought stricter regulation
of Fannie and Freedie over the years
You mean the Repugnikkkan controlled Congress implementing
"Reaganomics" for over 20 years?
Post by OneTwoThree
,,, forget that there were never any republican repeals of
regulations that would otherwise have prevented this mess in the
first place.
Prove it.
folks like you are the ones making the claim that is was "republican
deregulation" that caused the problem.
It was the combination of deregulation and the cheer-leading for more and
more home ownership and housing by the Republican administration that
"caused" the over extended borrowing. That is a plain fact.
Post by _ Prof. Jonez _
Post by OneTwoThree
Post by Reality_Check©
Why do you hate America ?
I dont hate America
Yes you do.
I am ever amazed at how some people think they can ascribe emotion in
other people with more accuracy than the people that are supposedly
feeling it.
Jeffrey Laventure
2008-10-13 23:08:27 UTC
Permalink
Post by Michael Coburn
Post by _ Prof. Jonez _
Post by OneTwoThree
Post by Reality_Check©
Post by OneTwoThree
Post by Reality_Check©
Post by OneTwoThree
Post by Reality_Check©
Post by OneTwoThree
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
I ran into a painter on the job who said that in his area,
mortgage brokers would deposit $30,000 into the account of a
client for whom they were trying to get a loan. The
otherwise unqualified buyer would have instant good credit.
After the loan was granted, the broker pulled his money out.
Complete BULLSHIT !
Gospel truth, so help me...
Complete BULLSHIT ... not even god can help.
1) Depositing $30,000 doesn't change bad credit into "instant
good credit",
in fact it doesn't change your credit score at all.
2) Depositing $30,000 doesn't change anyone's DTI ratios from
bad to good 3) Depositing $30,000 *does* raise mortgage
underwriter suspicion,
and if being
used towards the purchase of the home, would require a verified
source statement
as to the exact origin of the funds, and a sworn statement that
the funds were
not borrowed/loaned.
Now take your BULLSHIT back to your "painter" friend and tell
him to EAT IT.
And yet, we are faced with the reality that mortgage brokers
were able to obtain home loans for clients who had no money to
put down, no income and no assets.
using "stated income" and paying a couple more points, which were
tacked into the final loan amout.
Higher costs for higher risks.
Post by OneTwoThree
another trick of the trade was to wrap a couple of years payments
into the loan, so that the buyer could pay the mortgage while
maybe fixing up a little and getting ready to sell in a year for
that now infamous 10-20% "profit"
And MILLIONS of buyers did that successfully.
Post by OneTwoThree
I'm with the other guy - your story may well be an urban myth,
especially as it was not necessary to do such things during the
heat of the RE bubble.
Deadbeats ALWAYS blame other's for their own failures ... it's the
Amerikkkan way !
Post by OneTwoThree
Post by TigerLuck
Some mortgage brokers are exclusively lenders of their own money
and provide a direct source of mortgage funding to clients. This
money can be used to secure funds from a third party. If the
deal is done right, the broker can be paid back from the third
party loan.
if they are lending their own money, why would they need to
involve a 3rd party?
Exactly. TigerLuck is full of shit.
Post by OneTwoThree
a LOT of the questionable loans came from third party brokers who
received a commission for finding the client and working the
client through the paperwork process.
And EVERY ONE of those loans required the homeowner/borrower to
declare -- numerous times -- under penalty of perjury and/or
fraud, that *all* the information they submitted is TRUE and
ACCURATE. And no one forced these loser homeowners to borrow the
$$ and spend it in the first place.
Amerikkan greed and ignorance collided with
Reagan/Bu$h/Repugnikkkan economics.
there is your own bottom line - everything is the fault of
republicans....... forget the dems who fought stricter regulation
of Fannie and Freedie over the years
You mean the Repugnikkkan controlled Congress implementing
"Reaganomics" for over 20 years?
Post by OneTwoThree
,,, forget that there were never any republican repeals of
regulations that would otherwise have prevented this mess in the
first place.
Prove it.
folks like you are the ones making the claim that is was "republican
deregulation" that caused the problem.
It was the combination of deregulation and the cheer-leading for more and
more home ownership and housing by the Republican administration that
"caused" the over extended borrowing. That is a plain fact.
I believe you mean "Democrat" cheer leading. Don't you?
Post by Michael Coburn
Post by _ Prof. Jonez _
Post by OneTwoThree
Post by Reality_Check©
Why do you hate America ?
I dont hate America
Yes you do.
I am ever amazed at how some people think they can ascribe emotion in
other people with more accuracy than the people that are supposedly
feeling it.
Deadrat
2008-10-13 23:22:38 UTC
Permalink
Post by Jeffrey Laventure
Post by Michael Coburn
Post by OneTwoThree
Post by Reality_Check©
Post by OneTwoThree
Post by Reality_Check©
Post by OneTwoThree
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
I ran into a painter on the job who said that in his
area, mortgage brokers would deposit $30,000 into the
account of a client for whom they were trying to get a
loan. The otherwise unqualified buyer would have instant
good credit. After the loan was granted, the broker
pulled his money out.
Complete BULLSHIT !
Gospel truth, so help me...
Complete BULLSHIT ... not even god can help.
1) Depositing $30,000 doesn't change bad credit into
"instant good credit",
in fact it doesn't change your credit score at all.
2) Depositing $30,000 doesn't change anyone's DTI ratios
from bad to good 3) Depositing $30,000 *does* raise
mortgage underwriter suspicion,
and if being
used towards the purchase of the home, would require a
verified source statement
as to the exact origin of the funds, and a sworn statement
that the funds were
not borrowed/loaned.
Now take your BULLSHIT back to your "painter" friend and
tell him to EAT IT.
And yet, we are faced with the reality that mortgage brokers
were able to obtain home loans for clients who had no money
to put down, no income and no assets.
using "stated income" and paying a couple more points, which
were tacked into the final loan amout.
Higher costs for higher risks.
Post by OneTwoThree
another trick of the trade was to wrap a couple of years
payments into the loan, so that the buyer could pay the
mortgage while maybe fixing up a little and getting ready to
sell in a year for that now infamous 10-20% "profit"
And MILLIONS of buyers did that successfully.
Post by OneTwoThree
I'm with the other guy - your story may well be an urban
myth, especially as it was not necessary to do such things
during the heat of the RE bubble.
Deadbeats ALWAYS blame other's for their own failures ... it's
the Amerikkkan way !
Post by OneTwoThree
Post by TigerLuck
Some mortgage brokers are exclusively lenders of their own
money and provide a direct source of mortgage funding to
clients. This money can be used to secure funds from a third
party. If the deal is done right, the broker can be paid
back from the third party loan.
if they are lending their own money, why would they need to
involve a 3rd party?
Exactly. TigerLuck is full of shit.
Post by OneTwoThree
a LOT of the questionable loans came from third party brokers
who received a commission for finding the client and working
the client through the paperwork process.
And EVERY ONE of those loans required the homeowner/borrower
to declare -- numerous times -- under penalty of perjury
and/or fraud, that *all* the information they submitted is
TRUE and ACCURATE. And no one forced these loser homeowners to
borrow the $$ and spend it in the first place.
Amerikkan greed and ignorance collided with
Reagan/Bu$h/Repugnikkkan economics.
there is your own bottom line - everything is the fault of
republicans....... forget the dems who fought stricter
regulation of Fannie and Freedie over the years
You mean the Repugnikkkan controlled Congress implementing
"Reaganomics" for over 20 years?
Post by OneTwoThree
,,, forget that there were never any republican repeals of
regulations that would otherwise have prevented this mess in
the first place.
Prove it.
folks like you are the ones making the claim that is was
"republican deregulation" that caused the problem.
It was the combination of deregulation and the cheer-leading for more
and more home ownership and housing by the Republican administration
that "caused" the over extended borrowing. That is a plain fact.
I believe you mean "Democrat" cheer leading. Don't you?
There's plenty of blame to go around, but W has been in office since
2001, and the Republicans had a majority in the House between 1994 and
2006 and a majority in the Senate for much of that time. So what's the
self-described party of personal responsibililty doing? Predictably,
blaming the Democrats.

<snip/>
Michael Coburn
2008-10-14 00:30:12 UTC
Permalink
Post by Deadrat
On Sun, 12 Oct 2008 01:24:42 -0700, Michael Coburn wrote (in article
Post by Michael Coburn
Post by OneTwoThree
Post by Reality_Check©
Post by OneTwoThree
Post by Reality_Check©
Post by OneTwoThree
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
I ran into a painter on the job who said that in his
area, mortgage brokers would deposit $30,000 into the
account of a client for whom they were trying to get a
loan. The otherwise unqualified buyer would have instant
good credit. After the loan was granted, the broker
pulled his money out.
Complete BULLSHIT !
Gospel truth, so help me...
Complete BULLSHIT ... not even god can help.
1) Depositing $30,000 doesn't change bad credit into
"instant good credit",
in fact it doesn't change your credit score at all.
2) Depositing $30,000 doesn't change anyone's DTI ratios
from bad to good 3) Depositing $30,000 *does* raise mortgage
underwriter suspicion,
and if being
used towards the purchase of the home, would require a
verified source statement
as to the exact origin of the funds, and a sworn statement
that the funds were
not borrowed/loaned.
Now take your BULLSHIT back to your "painter" friend and
tell him to EAT IT.
And yet, we are faced with the reality that mortgage brokers
were able to obtain home loans for clients who had no money
to put down, no income and no assets.
using "stated income" and paying a couple more points, which
were tacked into the final loan amout.
Higher costs for higher risks.
Post by OneTwoThree
another trick of the trade was to wrap a couple of years
payments into the loan, so that the buyer could pay the
mortgage while maybe fixing up a little and getting ready to
sell in a year for that now infamous 10-20% "profit"
And MILLIONS of buyers did that successfully.
Post by OneTwoThree
I'm with the other guy - your story may well be an urban myth,
especially as it was not necessary to do such things during
the heat of the RE bubble.
Deadbeats ALWAYS blame other's for their own failures ... it's
the Amerikkkan way !
Post by OneTwoThree
Post by TigerLuck
Some mortgage brokers are exclusively lenders of their own
money and provide a direct source of mortgage funding to
clients. This money can be used to secure funds from a third
party. If the deal is done right, the broker can be paid back
from the third party loan.
if they are lending their own money, why would they need to
involve a 3rd party?
Exactly. TigerLuck is full of shit.
Post by OneTwoThree
a LOT of the questionable loans came from third party brokers
who received a commission for finding the client and working
the client through the paperwork process.
And EVERY ONE of those loans required the homeowner/borrower to
declare -- numerous times -- under penalty of perjury and/or
fraud, that *all* the information they submitted is TRUE and
ACCURATE. And no one forced these loser homeowners to borrow
the $$ and spend it in the first place.
Amerikkan greed and ignorance collided with
Reagan/Bu$h/Repugnikkkan economics.
there is your own bottom line - everything is the fault of
republicans....... forget the dems who fought stricter
regulation of Fannie and Freedie over the years
You mean the Repugnikkkan controlled Congress implementing
"Reaganomics" for over 20 years?
Post by OneTwoThree
,,, forget that there were never any republican repeals of
regulations that would otherwise have prevented this mess in the
first place.
Prove it.
folks like you are the ones making the claim that is was
"republican deregulation" that caused the problem.
It was the combination of deregulation and the cheer-leading for more
and more home ownership and housing by the Republican administration
that "caused" the over extended borrowing. That is a plain fact.
I believe you mean "Democrat" cheer leading. Don't you?
There's plenty of blame to go around, but W has been in office since
2001, and the Republicans had a majority in the House between 1994 and
2006 and a majority in the Senate for much of that time. So what's the
self-described party of personal responsibililty doing? Predictably,
blaming the Democrats.
http://findarticles.com/p/articles/mi_m0EIN/is_/ai_92843512 ----
WASHINGTON--(BUSINESS WIRE)--Oct. 15, 2002

The National Association of Realtors(R) announced today that it has made
a pledge to the White House to help meet the President's challenge to
increase the number of minority homeowners in America by 5.5 million
before the end of the decade.
----------------------------------------------------------------

The (P)resident made this commitment to increase home ownership at a time
when home ownership was already rising very fast. The initial housing
bubble actually started in 1999/2000 after the 1997 zero capital gains
taxes on residences used for only 2 years, and the slashing of capital
gains taxes from 28% to 20%.

***********************************************************
http://www.whitehouse.gov/news/releases/2003/10/20031015-10.html ---
October 15, 2003

President Calls on Senate to Pass American Dream Downpayment Act
Remarks by the President on Housing and the Economy
Ruiz Foods
Dinuba, California
(...)
THE PRESIDENT: Como esta? (Applause.) Me, too. (Laughter.)
(...)
But here are some of the things that we intend to do and we discussed
today earlier. Sometimes people have trouble finding the down payment for
a home. It makes them nervous when they hear the down payment. We need to
have a down payment fund to help people with down payments if they
qualify. The Congress -- the House passed my request for $200 million a
year. It's stuck in the Senate. The Senate needs to act. If they're
interested in closing the minority home ownership gap, they need to act
on the down payment fund.
-----------------------------------------------------------------

This actually turned out to be a way to induce people who could not
afford the home into buying the home. Yet the Republicans want to blame
Freddie.

**********************************************************
http://www.whitehouse.gov/news/releases/2003/12/20031216-9.html ---
For Immediate Release
Office of the Press Secretary
December 16, 2003
President Bush Signs American Dream Downpayment Act of 2003
(...)

This administration will constantly strive to promote an ownership
society in America. We want more people owning their own home. It is in
our national interest that more people own their own home. After all, if
you own your own home, you have a vital stake in the future of our
country. And this is a good time for the American homeowner. Today we
received a report that showed that new home construction last month
reached its highest level in nearly 20 years. (Applause.)
------------------------------------------------------------
This is actually the American Dream _NO_ Downpayment Act and it was
part of the Bush and Republican dream of currency destruction as a way of
destroying the US government and replacing it with a fascist Republican
state.

And here we have the wraparound and the whole enchilada. We have no
downpayment and no taxation on home speculation. This doesn't even count
the mortgage deductability. That interest is 99.9% of the payment on the
home and it is deductible. The untaxed appreciation of the home and the
government subsidy as a break on the interest was actually a way to live
in the house essentially for free. Just sell it at the end of 2 years or
refinance it and you were the smartest kid on the block. You be in the
fast lane.

*********************************************************************
http://findarticles.com/p/articles/mi_hb5246/is_200403/ai_n19793121 ---
Mortgage Banking, March, 2004

FANNIE MAE HAS ANNOUNCED A PLEDGE to help 6 million families--including
1.8 million minority families--become first-time homeowners over the next
decade. The pledge boosts the company's commitment to President Bush's
Minority Homeownership Initiative and will help raise the minority
homeownership rate from 50.6 percent currently to 55 percent, with the
ultimate goal of closing the gap between minority homeownership rates and
nonminority homeownership rates.
--------------------------------------------------------------------

The Democrats had control of George Bush and his mouth at all times.
Bush was the Democrat's dummy and Fannie Mae was acting completely on its
own in this lowball mortgage scam.

B O T T O M L I N E &&&&&&

The Republicans were in total control of every facet of the Government in
the years 2001 - 2007. The operations of Fannie Mae and Freddie Mac are
the responsibility of the people in control in the government and that is
the Republicans and not the Democrats. This argument over more oversight
at Fannie Mea is rather silly in view of the fact that The Office of
Federal Housing Enterprise Oversight (OFHEO) was able to remove Frank
Raines from his position of CEO and replace him in 2004. And it is
assumed that he was replaced with someone more approved by the Bush
Republicans as that person was able to write off $6B in Fannie
misrepresentations. I got some news for the Republican noise machine nit
pickers. $6B is peanuts and the Republicans took it all over in 2004.

So with the OFHEO able to remove the CEO I am not quite sure why the
current oversight mechanism needs to be adjusted or exactly how Freddie
is accountable for the Bush policies that it tried to follow.

Michael Coburn
2008-10-14 00:29:13 UTC
Permalink
On Sun, 12 Oct 2008 01:24:42 -0700, Michael Coburn wrote (in article
Post by Michael Coburn
Post by _ Prof. Jonez _
Post by OneTwoThree
Post by Reality_Check©
Post by OneTwoThree
Post by Reality_Check©
Post by OneTwoThree
Post by Reality_Check©
Post by OneTwoThree
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
I ran into a painter on the job who said that in his area,
mortgage brokers would deposit $30,000 into the account of
a client for whom they were trying to get a loan. The
otherwise unqualified buyer would have instant good
credit. After the loan was granted, the broker pulled his
money out.
Complete BULLSHIT !
Gospel truth, so help me...
Complete BULLSHIT ... not even god can help.
1) Depositing $30,000 doesn't change bad credit into "instant
good credit",
in fact it doesn't change your credit score at all.
2) Depositing $30,000 doesn't change anyone's DTI ratios from
bad to good 3) Depositing $30,000 *does* raise mortgage
underwriter suspicion,
and if being
used towards the purchase of the home, would require a
verified source statement
as to the exact origin of the funds, and a sworn statement
that the funds were
not borrowed/loaned.
Now take your BULLSHIT back to your "painter" friend and tell
him to EAT IT.
And yet, we are faced with the reality that mortgage brokers
were able to obtain home loans for clients who had no money to
put down, no income and no assets.
using "stated income" and paying a couple more points, which
were tacked into the final loan amout.
Higher costs for higher risks.
Post by OneTwoThree
another trick of the trade was to wrap a couple of years
payments into the loan, so that the buyer could pay the
mortgage while maybe fixing up a little and getting ready to
sell in a year for that now infamous 10-20% "profit"
And MILLIONS of buyers did that successfully.
Post by OneTwoThree
I'm with the other guy - your story may well be an urban myth,
especially as it was not necessary to do such things during the
heat of the RE bubble.
Deadbeats ALWAYS blame other's for their own failures ... it's
the Amerikkkan way !
Post by OneTwoThree
Post by TigerLuck
Some mortgage brokers are exclusively lenders of their own
money and provide a direct source of mortgage funding to
clients. This money can be used to secure funds from a third
party. If the deal is done right, the broker can be paid back
from the third party loan.
if they are lending their own money, why would they need to
involve a 3rd party?
Exactly. TigerLuck is full of shit.
Post by OneTwoThree
a LOT of the questionable loans came from third party brokers
who received a commission for finding the client and working
the client through the paperwork process.
And EVERY ONE of those loans required the homeowner/borrower to
declare -- numerous times -- under penalty of perjury and/or
fraud, that *all* the information they submitted is TRUE and
ACCURATE. And no one forced these loser homeowners to borrow the
$$ and spend it in the first place.
Amerikkan greed and ignorance collided with
Reagan/Bu$h/Repugnikkkan economics.
there is your own bottom line - everything is the fault of
republicans....... forget the dems who fought stricter regulation
of Fannie and Freedie over the years
You mean the Repugnikkkan controlled Congress implementing
"Reaganomics" for over 20 years?
Post by OneTwoThree
,,, forget that there were never any republican repeals of
regulations that would otherwise have prevented this mess in the
first place.
Prove it.
folks like you are the ones making the claim that is was
"republican deregulation" that caused the problem.
It was the combination of deregulation and the cheer-leading for more
and more home ownership and housing by the Republican administration
that "caused" the over extended borrowing. That is a plain fact.
I believe you mean "Democrat" cheer leading. Don't you?
Nope.

http://findarticles.com/p/articles/mi_m0EIN/is_/ai_92843512 ----
WASHINGTON--(BUSINESS WIRE)--Oct. 15, 2002

The National Association of Realtors(R) announced today that it has made
a pledge to the White House to help meet the President's challenge to
increase the number of minority homeowners in America by 5.5 million
before the end of the decade.
----------------------------------------------------------------

The (P)resident made this commitment to increase home ownership at a time
when home ownership was already rising very fast. The initial housing
bubble actually started in 1999/2000 after the 1997 zero capital gains
taxes on residences used for only 2 years, and the slashing of capital
gains taxes from 28% to 20%.

***********************************************************
http://www.whitehouse.gov/news/releases/2003/10/20031015-10.html ---
October 15, 2003

President Calls on Senate to Pass American Dream Downpayment Act
Remarks by the President on Housing and the Economy
Ruiz Foods
Dinuba, California
(...)
THE PRESIDENT: Como esta? (Applause.) Me, too. (Laughter.)
(...)
But here are some of the things that we intend to do and we discussed
today earlier. Sometimes people have trouble finding the down payment for
a home. It makes them nervous when they hear the down payment. We need to
have a down payment fund to help people with down payments if they
qualify. The Congress -- the House passed my request for $200 million a
year. It's stuck in the Senate. The Senate needs to act. If they're
interested in closing the minority home ownership gap, they need to act
on the down payment fund.
-----------------------------------------------------------------

This actually turned out to be a way to induce people who could not
afford the home into buying the home. Yet the Republicans want to blame
Freddie.

**********************************************************
http://www.whitehouse.gov/news/releases/2003/12/20031216-9.html ---
For Immediate Release
Office of the Press Secretary
December 16, 2003
President Bush Signs American Dream Downpayment Act of 2003
(...)

This administration will constantly strive to promote an ownership
society in America. We want more people owning their own home. It is in
our national interest that more people own their own home. After all, if
you own your own home, you have a vital stake in the future of our
country. And this is a good time for the American homeowner. Today we
received a report that showed that new home construction last month
reached its highest level in nearly 20 years. (Applause.)
------------------------------------------------------------
This is actually the American Dream _NO_ Downpayment Act and it was
part of the Bush and Republican dream of currency destruction as a way of
destroying the US government and replacing it with a fascist Republican
state.

And here we have the wraparound and the whole enchilada. We have no
downpayment and no taxation on home speculation. This doesn't even count
the mortgage deductability. That interest is 99.9% of the payment on the
home and it is deductible. The untaxed appreciation of the home and the
government subsidy as a break on the interest was actually a way to live
in the house essentially for free. Just sell it at the end of 2 years or
refinance it and you were the smartest kid on the block. You be in the
fast lane.

*********************************************************************
http://findarticles.com/p/articles/mi_hb5246/is_200403/ai_n19793121 ---
Mortgage Banking, March, 2004

FANNIE MAE HAS ANNOUNCED A PLEDGE to help 6 million families--including
1.8 million minority families--become first-time homeowners over the next
decade. The pledge boosts the company's commitment to President Bush's
Minority Homeownership Initiative and will help raise the minority
homeownership rate from 50.6 percent currently to 55 percent, with the
ultimate goal of closing the gap between minority homeownership rates and
nonminority homeownership rates.
--------------------------------------------------------------------

The Democrats had control of George Bush and his mouth at all times.
Bush was the Democrat's dummy and Fannie Mae was acting completely on its
own in this lowball mortgage scam.

B O T T O M L I N E &&&&&&

The Republicans were in total control of every facet of the Government in
the years 2001 - 2007. The operations of Fannie Mae and Freddie Mac are
the responsibility of the people in control in the government and that is
the Republicans and not the Democrats. This argument over more oversight
at Fannie Mea is rather silly in view of the fact that The Office of
Federal Housing Enterprise Oversight (OFHEO) was able to remove Frank
Raines from his position of CEO and replace him in 2004. And it is
assumed that he was replaced with someone more approved by the Bush
Republicans as that person was able to write off $6B in Fannie
misrepresentations. I got some news for the Republican noise machine nit
pickers. $6B is peanuts and the Republicans took it all over in 2004.

So with the OFHEO able to remove the CEO I am not quite sure why the
current oversight mechanism needs to be adjusted or exactly how Freddie
is accountable for the Bush policies that it tried to follow.
Post by Michael Coburn
Post by _ Prof. Jonez _
Post by OneTwoThree
Post by Reality_Check©
Why do you hate America ?
I dont hate America
Yes you do.
I am ever amazed at how some people think they can ascribe emotion in
other people with more accuracy than the people that are supposedly
feeling it.
Deadrat
2008-10-06 19:25:11 UTC
Permalink
Post by OneTwoThree
Post by Reality_Check©
Post by OneTwoThree
Post by Reality_Check©
Post by OneTwoThree
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
I ran into a painter on the job who said that in his area,
mortgage brokers would deposit $30,000 into the account of a
client for whom they were trying to get a loan. The otherwise
unqualified buyer would have instant good credit. After the
loan was granted, the broker pulled his money out.
Complete BULLSHIT !
Gospel truth, so help me...
Complete BULLSHIT ... not even god can help.
1) Depositing $30,000 doesn't change bad credit into "instant good credit",
in fact it doesn't change your credit score at all.
2) Depositing $30,000 doesn't change anyone's DTI ratios from
bad to good 3) Depositing $30,000 *does* raise mortgage
underwriter suspicion,
and if being
used towards the purchase of the home, would require a verified
source statement
as to the exact origin of the funds, and a sworn statement that
the funds were
not borrowed/loaned.
Now take your BULLSHIT back to your "painter" friend and tell him to EAT IT.
And yet, we are faced with the reality that mortgage brokers were
able to obtain home loans for clients who had no money to put
down, no income and no assets.
using "stated income" and paying a couple more points, which were
tacked into the final loan amout.
Higher costs for higher risks.
Post by OneTwoThree
another trick of the trade was to wrap a couple of years payments
into the loan, so that the buyer could pay the mortgage while
maybe fixing up a little and getting ready to sell in a year for
that now infamous 10-20% "profit"
And MILLIONS of buyers did that successfully.
Post by OneTwoThree
I'm with the other guy - your story may well be an urban myth,
especially as it was not necessary to do such things during the
heat of the RE bubble.
Deadbeats ALWAYS blame other's for their own failures ... it's the
Amerikkkan way !
Post by OneTwoThree
Post by TigerLuck
Some mortgage brokers are exclusively lenders of their own money
and provide a direct source of mortgage funding to clients. This
money can be used to secure funds from a third party. If the deal
is done right, the broker can be paid back from the third party
loan.
if they are lending their own money, why would they need to
involve a 3rd party?
Exactly. TigerLuck is full of shit.
Post by OneTwoThree
a LOT of the questionable loans came from third party
brokers who received a commission for finding the client and
working the client through the paperwork process.
And EVERY ONE of those loans required the homeowner/borrower
to declare -- numerous times -- under penalty of perjury and/or
fraud, that *all* the information they submitted is TRUE and
ACCURATE. And no one forced these loser homeowners to borrow the $$
and spend it in the first place.
Amerikkan greed and ignorance collided with
Reagan/Bu$h/Repugnikkkan economics.
there is your own bottom line - everything is the fault of
republicans....... forget the dems who fought stricter regulation of
Fannie and Freedie over the years
You mean the Repugnikkkan controlled Congress implementing
"Reaganomics" for over 20 years?
Post by OneTwoThree
,,, forget that there were never any republican repeals of
regulations that would otherwise have prevented
this mess in the first place.
Prove it.
folks like you are the ones making the claim that is was "republican
deregulation" that caused the problem. name some "republican" repeals
of regulations that prevented the lieing, cheating, and stealing that
occured?
folks like you made the accusations... so YOU prove it.
In 1999, Phil Gramm led the fight to gut the Depression Era Glass-
Steagall Act, the law that kept commericial banks and investment banks
separate. The new law is called the Gramm-Leach-Bliley Act. Does that
tell you anything?

After W became President, Gramm put the Commodity Futures Modernization
Act as an amendment into a spending bill. That act deregulated financial
derivatives and exempted energy trading from regulation. Remember Enron?

In 2003, Congress passed and the President signed an law with the
Orwellian name of the Responsible Lending Act. This law preempted state
regulation of predatory lending. By the way, it was Repubs all the way
down in 2003.

There's plenty of blame to go around. But Republicans have taken the
lead in deregulation. They believe in deregulation as an article of
faith. It's still in the Republican platform. And Republicans were in
charge of the executive and legislative branches for most of the years
2001 to 2006.

Aren't Republicans the party of personal responsibility? Why are they
and you trying to shift the blame?

<snip/>
r***@comcast.net
2008-10-06 19:56:12 UTC
Permalink
Post by Deadrat
In 1999, Phil Gramm led the fight to gut the Depression Era Glass-
Steagall Act, the law that kept commericial banks and investment banks
separate. The new law is called the Gramm-Leach-Bliley Act. Does that
tell you anything?
After W became President, Gramm put the Commodity Futures Modernization
Act as an amendment into a spending bill. That act deregulated financial
derivatives and exempted energy trading from regulation. Remember Enron?
In 2003, Congress passed and the President signed an law with the
Orwellian name of the Responsible Lending Act. This law preempted state
regulation of predatory lending. By the way, it was Repubs all the way
down in 2003.
Ah forgot about that one.
Post by Deadrat
There's plenty of blame to go around. But Republicans have taken the
lead in deregulation. They believe in deregulation as an article of
faith. It's still in the Republican platform. And Republicans were in
charge of the executive and legislative branches for most of the years
2001 to 2006.
Aren't Republicans the party of personal responsibility? Why are they
and you trying to shift the blame?
We should add also the American Dream Downpayment Act of 2003 which
did away with down payment requirements and closing costs.

And the overhaul of the Bankruptcy laws so none of that easy credit
could escape .
KStahl
2008-10-04 04:38:20 UTC
Permalink
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
I ran into a painter on the job who said that in his area, mortgage
brokers would deposit $30,000 into the account of a client for whom
they were trying to get a loan. The otherwise unqualified buyer would
have instant good credit. After the loan was granted, the broker
pulled his money out.
Complete BULLSHIT !
Gospel truth, so help me...
You took the bait and that person reeled you right in. I don't suppose
he showed you any actual bank statements to support the story?

I didn't think so.

You were suckered and don't even realize it.
TigerLuck
2008-10-04 04:39:27 UTC
Permalink
Post by KStahl
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
I ran into a painter on the job who said that in his area, mortgage
brokers would deposit $30,000 into the account of a client for whom
they were trying to get a loan. The otherwise unqualified buyer would
have instant good credit. After the loan was granted, the broker
pulled his money out.
Complete BULLSHIT !
Gospel truth, so help me...
You took the bait and that person reeled you right in. I don't suppose
he showed you any actual bank statements to support the story?
I didn't think so.
You were suckered and don't even realize it.
I know someone personally who experienced the same thing.
--
Sinatra & Sarah do Witchcraft
http://youtu.be/rqs_2CVcWb0

Meet Pastor Muthee -- the man who laid hands on Sarah Palin
http://youtu.be/CsnrIVj9IbM
Reality_Check©
2008-10-04 04:50:43 UTC
Permalink
Post by TigerLuck
Post by KStahl
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
I ran into a painter on the job who said that in his area,
mortgage brokers would deposit $30,000 into the account of a
client for whom they were trying to get a loan. The otherwise
unqualified buyer would have instant good credit. After the loan
was granted, the broker pulled his money out.
Complete BULLSHIT !
Gospel truth, so help me...
You took the bait and that person reeled you right in. I don't
suppose he showed you any actual bank statements to support the
story? I didn't think so.
You were suckered and don't even realize it.
I know someone personally who experienced the same thing.
You're lying again.

Why do you lie so much?
TigerLuck
2008-10-04 04:59:21 UTC
Permalink
Post by Reality_Check©
Post by TigerLuck
Post by KStahl
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
I ran into a painter on the job who said that in his area,
mortgage brokers would deposit $30,000 into the account of a
client for whom they were trying to get a loan. The otherwise
unqualified buyer would have instant good credit. After the loan
was granted, the broker pulled his money out.
Complete BULLSHIT !
Gospel truth, so help me...
You took the bait and that person reeled you right in. I don't
suppose he showed you any actual bank statements to support the
story? I didn't think so.
You were suckered and don't even realize it.
I know someone personally who experienced the same thing.
You're lying again.
Why do you lie so much?
Who died and made *you* Miss Cleo?
--
Sinatra & Sarah do Witchcraft
http://youtu.be/rqs_2CVcWb0

Meet Pastor Muthee -- the man who laid hands on Sarah Palin
http://youtu.be/CsnrIVj9IbM
Reality_Check©
2008-10-04 05:05:09 UTC
Permalink
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by KStahl
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
I ran into a painter on the job who said that in his area,
mortgage brokers would deposit $30,000 into the account of a
client for whom they were trying to get a loan. The otherwise
unqualified buyer would have instant good credit. After the loan
was granted, the broker pulled his money out.
Complete BULLSHIT !
Gospel truth, so help me...
You took the bait and that person reeled you right in. I don't
suppose he showed you any actual bank statements to support the
story? I didn't think so.
You were suckered and don't even realize it.
I know someone personally who experienced the same thing.
You're lying again.
Why do you lie so much?
Who died and made *you* Miss Cleo?
Why do you lie so much?

You think anyone is stupid enough to believe your absurd BULLSHIT ?

Now tell us again how depositing $30,000 gives someone "instant good
credit".
TigerLuck
2008-10-04 05:11:11 UTC
Permalink
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by KStahl
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
I ran into a painter on the job who said that in his area,
mortgage brokers would deposit $30,000 into the account of a
client for whom they were trying to get a loan. The otherwise
unqualified buyer would have instant good credit. After the loan
was granted, the broker pulled his money out.
Complete BULLSHIT !
Gospel truth, so help me...
You took the bait and that person reeled you right in. I don't
suppose he showed you any actual bank statements to support the
story? I didn't think so.
You were suckered and don't even realize it.
I know someone personally who experienced the same thing.
You're lying again.
Why do you lie so much?
Who died and made *you* Miss Cleo?
Why do you lie so much?
You think anyone is stupid enough to believe your absurd BULLSHIT ?
Now tell us again how depositing $30,000 gives someone "instant good
credit".
If I have $30,000 deposited with a bank, that bank would be more than
happy to lend me $30,000, no questions asked.

I did it once with a lesser amount when I was just getting stated in the
credit world.

I didn't post anything about getting an instant good credit *rating*.
That came later.
--
Sinatra & Sarah do Witchcraft
http://youtu.be/rqs_2CVcWb0

Meet Pastor Muthee -- the man who laid hands on Sarah Palin
http://youtu.be/CsnrIVj9IbM
Reality_Check©
2008-10-04 05:16:55 UTC
Permalink
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by KStahl
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
I ran into a painter on the job who said that in his area,
mortgage brokers would deposit $30,000 into the account of a
client for whom they were trying to get a loan. The otherwise
unqualified buyer would have instant good credit. After the
loan was granted, the broker pulled his money out.
Complete BULLSHIT !
Gospel truth, so help me...
You took the bait and that person reeled you right in. I don't
suppose he showed you any actual bank statements to support the
story? I didn't think so.
You were suckered and don't even realize it.
I know someone personally who experienced the same thing.
You're lying again.
Why do you lie so much?
Who died and made *you* Miss Cleo?
Why do you lie so much?
You think anyone is stupid enough to believe your absurd BULLSHIT ?
Now tell us again how depositing $30,000 gives someone "instant good
credit".
If I have $30,000 deposited with a bank, that bank would be more than
happy to lend me $30,000, no questions asked.
You really are dumber than a bucket of dirt, aren't you boy?
Post by TigerLuck
I did it once with a lesser amount when I was just getting stated in
the credit world.
And did you "borrow" the deposit $$ from a mortgage broker?
Post by TigerLuck
I didn't post anything about getting an instant good credit *rating*.
That came later.
Here's the BULLSHIT story you posted, jackass:

"I ran into a painter on the job who said that in his area, mortgage brokers
would
deposit $30,000 into the account of a client for whom they were trying to
get a
loan. The otherwise unqualified buyer would have instant good credit. After
the loan
was granted, the broker pulled his money out."
TigerLuck
2008-10-04 05:19:14 UTC
Permalink
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by KStahl
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
I ran into a painter on the job who said that in his area,
mortgage brokers would deposit $30,000 into the account of a
client for whom they were trying to get a loan. The otherwise
unqualified buyer would have instant good credit. After the
loan was granted, the broker pulled his money out.
Complete BULLSHIT !
Gospel truth, so help me...
You took the bait and that person reeled you right in. I don't
suppose he showed you any actual bank statements to support the
story? I didn't think so.
You were suckered and don't even realize it.
I know someone personally who experienced the same thing.
You're lying again.
Why do you lie so much?
Who died and made *you* Miss Cleo?
Why do you lie so much?
You think anyone is stupid enough to believe your absurd BULLSHIT ?
Now tell us again how depositing $30,000 gives someone "instant good
credit".
If I have $30,000 deposited with a bank, that bank would be more than
happy to lend me $30,000, no questions asked.
You really are dumber than a bucket of dirt, aren't you boy?
You know it's true. Why do pretend other wise?
Post by Reality_Check©
Post by TigerLuck
I did it once with a lesser amount when I was just getting stated in
the credit world.
And did you "borrow" the deposit $$ from a mortgage broker?
Post by TigerLuck
I didn't post anything about getting an instant good credit *rating*.
That came later.
"I ran into a painter on the job who said that in his area, mortgage brokers
would
deposit $30,000 into the account of a client for whom they were trying to get a
loan. The otherwise unqualified buyer would have instant good credit. After the loan
was granted, the broker pulled his money out."
--
Sinatra & Sarah do Witchcraft
http://youtu.be/rqs_2CVcWb0

Meet Pastor Muthee -- the man who laid hands on Sarah Palin
http://youtu.be/CsnrIVj9IbM
Reality_Check©
2008-10-04 05:23:06 UTC
Permalink
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by KStahl
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
I ran into a painter on the job who said that in his area,
mortgage brokers would deposit $30,000 into the account of a
client for whom they were trying to get a loan. The
otherwise unqualified buyer would have instant good credit.
After the loan was granted, the broker pulled his money out.
Complete BULLSHIT !
Gospel truth, so help me...
You took the bait and that person reeled you right in. I don't
suppose he showed you any actual bank statements to support the
story? I didn't think so.
You were suckered and don't even realize it.
I know someone personally who experienced the same thing.
You're lying again.
Why do you lie so much?
Who died and made *you* Miss Cleo?
Why do you lie so much?
You think anyone is stupid enough to believe your absurd BULLSHIT ?
Now tell us again how depositing $30,000 gives someone "instant
good credit".
If I have $30,000 deposited with a bank, that bank would be more
than happy to lend me $30,000, no questions asked.
You really are dumber than a bucket of dirt, aren't you boy?
You know it's true. Why do pretend other wise?
I make no pretense as to the depth of your ignorance.
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
I did it once with a lesser amount when I was just getting stated in
the credit world.
And did you "borrow" the deposit $$ from a mortgage broker?
Post by TigerLuck
I didn't post anything about getting an instant good credit
*rating*. That came later.
"I ran into a painter on the job who said that in his area, mortgage
brokers would
deposit $30,000 into the account of a client for whom they were trying to get a
loan. The otherwise unqualified buyer would have instant good
credit. After the loan
was granted, the broker pulled his money out."
TigerLuck
2008-10-04 05:37:44 UTC
Permalink
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by KStahl
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
I ran into a painter on the job who said that in his area,
mortgage brokers would deposit $30,000 into the account of a
client for whom they were trying to get a loan. The
otherwise unqualified buyer would have instant good credit.
After the loan was granted, the broker pulled his money out.
Complete BULLSHIT !
Gospel truth, so help me...
You took the bait and that person reeled you right in. I don't
suppose he showed you any actual bank statements to support the
story? I didn't think so.
You were suckered and don't even realize it.
I know someone personally who experienced the same thing.
You're lying again.
Why do you lie so much?
Who died and made *you* Miss Cleo?
Why do you lie so much?
You think anyone is stupid enough to believe your absurd BULLSHIT ?
Now tell us again how depositing $30,000 gives someone "instant
good credit".
If I have $30,000 deposited with a bank, that bank would be more
than happy to lend me $30,000, no questions asked.
You really are dumber than a bucket of dirt, aren't you boy?
You know it's true. Why do pretend other wise?
I make no pretense as to the depth of your ignorance.
Okay, then, let's hear *your*version of events.

Who is primarily responsible for the sub-prime mortgage crisis that has
the US on the edge of financial ruin?
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
I did it once with a lesser amount when I was just getting stated in
the credit world.
And did you "borrow" the deposit $$ from a mortgage broker?
Post by TigerLuck
I didn't post anything about getting an instant good credit
*rating*. That came later.
"I ran into a painter on the job who said that in his area, mortgage
brokers would
deposit $30,000 into the account of a client for whom they were trying to get a
loan. The otherwise unqualified buyer would have instant good credit. After the loan
was granted, the broker pulled his money out."
--
Sinatra & Sarah do Witchcraft
http://youtu.be/rqs_2CVcWb0

Meet Pastor Muthee -- the man who laid hands on Sarah Palin
http://youtu.be/CsnrIVj9IbM
Reality_Check©
2008-10-04 06:13:37 UTC
Permalink
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by KStahl
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
I ran into a painter on the job who said that in his area,
mortgage brokers would deposit $30,000 into the account
of a client for whom they were trying to get a loan. The
otherwise unqualified buyer would have instant good
credit. After the loan was granted, the broker pulled his
money out.
Complete BULLSHIT !
Gospel truth, so help me...
You took the bait and that person reeled you right in. I
don't suppose he showed you any actual bank statements to
support the story? I didn't think so.
You were suckered and don't even realize it.
I know someone personally who experienced the same thing.
You're lying again.
Why do you lie so much?
Who died and made *you* Miss Cleo?
Why do you lie so much?
You think anyone is stupid enough to believe your absurd
BULLSHIT ?
Now tell us again how depositing $30,000 gives someone "instant
good credit".
If I have $30,000 deposited with a bank, that bank would be more
than happy to lend me $30,000, no questions asked.
You really are dumber than a bucket of dirt, aren't you boy?
You know it's true. Why do pretend other wise?
I make no pretense as to the depth of your ignorance.
Okay, then, let's hear *your*version of events.
Who is primarily responsible for the sub-prime mortgage crisis that
has the US on the edge of financial ruin?
Who purchased homes they couldn't afford?

Who applied for loans they couldn't afford?

Who lied about their income/earning capacity on those loan applications,
thereby committing BANK FRAUD and other FELONIES?

Who borrowed $$ from undisclosed sources -- as in your bullshit original
story --
then lied about it on their loan applications, thereby committing FRAUD ?

Who signed all the Loan Applications, Closing Documents, HUD disclosures,
Purchase and Sale contracts, under Penalty of Perjury, swearing that
everything
was True and Correct?

Who took out second and third mortgages and spent what little equity they
had accumulated on frivolous, inane trappings of consumerism ?

Who defaulted and failed to pay their legal contractual obligations for the
$$ they borrowed and SPENT ?

That's right, jackass, take a look in the mirror.
TigerLuck
2008-10-04 06:23:27 UTC
Permalink
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by KStahl
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
I ran into a painter on the job who said that in his area,
mortgage brokers would deposit $30,000 into the account
of a client for whom they were trying to get a loan. The
otherwise unqualified buyer would have instant good
credit. After the loan was granted, the broker pulled his
money out.
Complete BULLSHIT !
Gospel truth, so help me...
You took the bait and that person reeled you right in. I
don't suppose he showed you any actual bank statements to
support the story? I didn't think so.
You were suckered and don't even realize it.
I know someone personally who experienced the same thing.
You're lying again.
Why do you lie so much?
Who died and made *you* Miss Cleo?
Why do you lie so much?
You think anyone is stupid enough to believe your absurd
BULLSHIT ?
Now tell us again how depositing $30,000 gives someone "instant
good credit".
If I have $30,000 deposited with a bank, that bank would be more
than happy to lend me $30,000, no questions asked.
You really are dumber than a bucket of dirt, aren't you boy?
You know it's true. Why do pretend other wise?
I make no pretense as to the depth of your ignorance.
Okay, then, let's hear *your*version of events.
Who is primarily responsible for the sub-prime mortgage crisis that
has the US on the edge of financial ruin?
Who purchased homes they couldn't afford?
Who applied for loans they couldn't afford?
Who made it possible for people to get loans they could not afford?

Who benefited from giving loans to people who could not afford them?

Are you claiming that people who could not afford loans walked into a
bank and applied for a loan they could not afford and the bank officers
were all so trusting that they didn't check whether these people could
pay back the loans?

No, they had people who mediated between them and the banks who knew the
ropes and knew how to bend the rules to get a loan approved.

Only the mortgage brokers had means, motive and opportunity. They are
the common thread in just about every mortgage loan gone bad.

Why are you defending these scumbags?
Post by Reality_Check©
Who lied about their income/earning capacity on those loan applications,
thereby committing BANK FRAUD and other FELONIES?
Who borrowed $$ from undisclosed sources -- as in your bullshit original
story --
then lied about it on their loan applications, thereby committing FRAUD ?
Who signed all the Loan Applications, Closing Documents, HUD disclosures,
Purchase and Sale contracts, under Penalty of Perjury, swearing that
everything
was True and Correct?
Who took out second and third mortgages and spent what little equity they
had accumulated on frivolous, inane trappings of consumerism ?
Who defaulted and failed to pay their legal contractual obligations for the
$$ they borrowed and SPENT ?
That's right, jackass, take a look in the mirror.
--
Sinatra & Sarah do Witchcraft
http://youtu.be/rqs_2CVcWb0

Meet Pastor Muthee -- the man who laid hands on Sarah Palin
http://youtu.be/CsnrIVj9IbM
Reality_Check©
2008-10-04 06:44:21 UTC
Permalink
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
Post by KStahl
Post by TigerLuck
Post by Reality_Check©
Post by TigerLuck
I ran into a painter on the job who said that in his
area, mortgage brokers would deposit $30,000 into the
account of a client for whom they were trying to get a
loan. The otherwise unqualified buyer would have
instant good credit. After the loan was granted, the
broker pulled his money out.
Complete BULLSHIT !
Gospel truth, so help me...
You took the bait and that person reeled you right in. I
don't suppose he showed you any actual bank statements to
support the story? I didn't think so.
You were suckered and don't even realize it.
I know someone personally who experienced the same thing.
You're lying again.
Why do you lie so much?
Who died and made *you* Miss Cleo?
Why do you lie so much?
You think anyone is stupid enough to believe your absurd BULLSHIT ?
Now tell us again how depositing $30,000 gives someone "instant
good credit".
If I have $30,000 deposited with a bank, that bank would be more
than happy to lend me $30,000, no questions asked.
You really are dumber than a bucket of dirt, aren't you boy?
You know it's true. Why do pretend other wise?
I make no pretense as to the depth of your ignorance.
Okay, then, let's hear *your*version of events.
Who is primarily responsible for the sub-prime mortgage crisis that
has the US on the edge of financial ruin?
Who purchased homes they couldn't afford?
Who applied for loans they couldn't afford?
Who made it possible for people to get loans they could not afford?
Who forced them to purchase those homes, or apply for those loans
they couldn't afford, eh numbnuts?
Post by TigerLuck
Who benefited from giving loans to people who could not afford them?
Builders
Realtors
Appraisors
Title Companies
Insurance Companies
and myriad other elements of the U$$A's Capitalist Society.

Who forced people to take loans they couldn't afford?
Post by TigerLuck
Are you claiming that people who could not afford loans walked into a
bank and applied for a loan they could not afford and the bank
officers were all so trusting that they didn't check whether these
people could pay back the loans?
Now you're getting closer ... the Underwriters did check the information
provided on the loan applications by the BORROWERS. If the borrowers
lied, falsified, omitted and committed other frauds upon the lenders, the
fault and culpability for those crimes lies with THE BORROWER.
Post by TigerLuck
No, they had people who mediated between them and the banks who knew
the ropes and knew how to bend the rules to get a loan approved.
The approval lies with the underwriting department at the lender. Who
forced the borrowers to lie, cheat and commmit fraud on their loan
applications?
Post by TigerLuck
Only the mortgage brokers had means, motive and opportunity.
More complete BULLSHIT from the ignorant jackass who has
no fucking clue how they system worked.
Post by TigerLuck
They are the common thread in just about every mortgage loan gone bad.
The common thread in EVERY loan gone bad is an ignorant greedy deadbeat
like you who defaults and breaks their legal obligation to repay $$ *they*
borrowed
and spent.

So tell us again who forced you to borrow the $$ ?

Go ahead, who forced you to borrow and spend $$ you don't have, eh deadbeat?
Post by TigerLuck
Why are you defending these scumbags?
I'm not defending scumbag deadbeats like you, you're the problem.
Post by TigerLuck
Post by Reality_Check©
Who lied about their income/earning capacity on those loan
applications, thereby committing BANK FRAUD and other FELONIES?
Who borrowed $$ from undisclosed sources -- as in your bullshit
original story --
then lied about it on their loan applications, thereby committing FRAUD ?
Who signed all the Loan Applications, Closing Documents, HUD
disclosures, Purchase and Sale contracts, under Penalty of Perjury,
swearing that everything
was True and Correct?
Who took out second and third mortgages and spent what little equity
they had accumulated on frivolous, inane trappings of consumerism ?
Who defaulted and failed to pay their legal contractual obligations
for the $$ they borrowed and SPENT ?
That's right, jackass, take a look in the mirror.
Wassa matta jackass, can't answer the uncomfortable questions?
KStahl
2008-10-04 12:31:46 UTC
Permalink
Post by TigerLuck
Post by KStahl
You were suckered and don't even realize it.
I know someone personally who experienced the same thing.
What? Being suckered by a fabricated story?
George Grapman
2008-10-04 02:34:03 UTC
Permalink
Post by TigerLuck
I ran into a painter on the job who said that in his area, mortgage
brokers would deposit $30,000 into the account of a client for whom they
were trying to get a loan. The otherwise unqualified buyer would have
instant good credit. After the loan was granted, the broker pulled his
money out.
I know a broker who is doing well because who only deals in secure
high end loans. He told me a similar story about brokers telling clients
to borrow money from relatives and return it when the loan closed. He
also said that they would find appraisers who were willing to overstate
property values. Also many lenders never bothered verifying income and
sometimes told people to lie.
Reality_Check©
2008-10-04 02:57:58 UTC
Permalink
Post by George Grapman
Post by TigerLuck
I ran into a painter on the job who said that in his area, mortgage
brokers would deposit $30,000 into the account of a client for whom
they were trying to get a loan. The otherwise unqualified buyer
would have instant good credit. After the loan was granted, the
broker pulled his money out.
I know a broker who is doing well because who only deals in secure
high end loans. He told me a similar story about brokers telling
clients to borrow money from relatives and return it when the loan
closed.
More BULLSHIT.

Borrowing $$ worsens their DTI, not improves it.
Post by George Grapman
He also said that they would find appraisers who were willing
to overstate property values.
There's the key to much of the mortgage fraud that occurred. Without a
sufficiently high appraisal, there is no loan/closing, no matter what the
loan
application says.
Post by George Grapman
Also many lenders never bothered verifying income
On the "No Income Verification" loan products for loser high-risk borrowers.
Post by George Grapman
and sometimes told people to lie.
Why would they tell people to lie -- a felony -- on a mortgage application?
House of Pancakes
2008-10-04 03:41:33 UTC
Permalink
Post by Reality_Check©
Post by George Grapman
Post by TigerLuck
I ran into a painter on the job who said that in his area, mortgage
brokers would deposit $30,000 into the account of a client for whom
they were trying to get a loan. The otherwise unqualified buyer
would have instant good credit. After the loan was granted, the
broker pulled his money out.
I know a broker who is doing well because who only deals in secure
high end loans. He told me a similar story about brokers telling
clients to borrow money from relatives and return it when the loan
closed.
More BULLSHIT.
Borrowing $$ worsens their DTI, not improves it.
Post by George Grapman
He also said that they would find appraisers who were willing
to overstate property values.
There's the key to much of the mortgage fraud that occurred. Without a
sufficiently high appraisal, there is no loan/closing, no matter what the
loan
application says.
Post by George Grapman
Also many lenders never bothered verifying income
On the "No Income Verification" loan products for loser high-risk borrowers.
Post by George Grapman
and sometimes told people to lie.
Why would they tell people to lie -- a felony -- on a mortgage
application?
You are really naive but then again you must support Bush, the failed Moron.
Reality_Check©
2008-10-04 03:58:41 UTC
Permalink
Post by House of Pancakes
Post by Reality_Check©
Post by George Grapman
Post by TigerLuck
I ran into a painter on the job who said that in his area, mortgage
brokers would deposit $30,000 into the account of a client for whom
they were trying to get a loan. The otherwise unqualified buyer
would have instant good credit. After the loan was granted, the
broker pulled his money out.
I know a broker who is doing well because who only deals in
secure high end loans. He told me a similar story about brokers
telling clients to borrow money from relatives and return it when
the loan closed.
More BULLSHIT.
Borrowing $$ worsens their DTI, not improves it.
Post by George Grapman
He also said that they would find appraisers who were willing
to overstate property values.
There's the key to much of the mortgage fraud that occurred. Without
a sufficiently high appraisal, there is no loan/closing, no matter
what the loan
application says.
Post by George Grapman
Also many lenders never bothered verifying income
On the "No Income Verification" loan products for loser high-risk borrowers.
Post by George Grapman
and sometimes told people to lie.
Why would they tell people to lie -- a felony -- on a mortgage application?
You are really naive but then again you must support Bush, the failed Moron.
Kill yourself now, jackass.
OneTwoThree
2008-10-04 16:55:43 UTC
Permalink
Post by Reality_Check©
Post by George Grapman
Post by TigerLuck
I ran into a painter on the job who said that in his area, mortgage
brokers would deposit $30,000 into the account of a client for whom
they were trying to get a loan. The otherwise unqualified buyer
would have instant good credit. After the loan was granted, the
broker pulled his money out.
I know a broker who is doing well because who only deals in secure
high end loans. He told me a similar story about brokers telling
clients to borrow money from relatives and return it when the loan
closed.
More BULLSHIT.
Borrowing $$ worsens their DTI, not improves it.
Post by George Grapman
He also said that they would find appraisers who were willing
to overstate property values.
There's the key to much of the mortgage fraud that occurred. Without a
sufficiently high appraisal, there is no loan/closing, no matter what the
loan
application says.
Post by George Grapman
Also many lenders never bothered verifying income
On the "No Income Verification" loan products for loser high-risk borrowers.
Post by George Grapman
and sometimes told people to lie.
Why would they tell people to lie -- a felony -- on a mortgage
application?
surely you jest......

given the 10 to 20% annual appreciation, the game was to get a house, slop
some paint around, maybe put in a couple new fixtures, and flip it. I am
still not seeing any real figures on the numbers of "flippers" or other
"investors" who were caught in this. Television shows like "Flip This House"
or "Flip That House" or "Property Ladder" or any number of radio programs I
have heard were filled with stories of this sort.

I'm willing to bet that a significant percentage of current foreclosures are
against people who were suckered into the turnover mentality, thinking they
were going to make a lot of money, and got caught.


.
Reality_Check©
2008-10-05 18:18:17 UTC
Permalink
Post by OneTwoThree
Post by Reality_Check©
Post by George Grapman
Post by TigerLuck
I ran into a painter on the job who said that in his area, mortgage
brokers would deposit $30,000 into the account of a client for whom
they were trying to get a loan. The otherwise unqualified buyer
would have instant good credit. After the loan was granted, the
broker pulled his money out.
I know a broker who is doing well because who only deals in
secure high end loans. He told me a similar story about brokers
telling clients to borrow money from relatives and return it when
the loan closed.
More BULLSHIT.
Borrowing $$ worsens their DTI, not improves it.
Post by George Grapman
He also said that they would find appraisers who were willing
to overstate property values.
There's the key to much of the mortgage fraud that occurred. Without
a sufficiently high appraisal, there is no loan/closing, no matter
what the loan
application says.
Post by George Grapman
Also many lenders never bothered verifying income
On the "No Income Verification" loan products for loser high-risk borrowers.
Post by George Grapman
and sometimes told people to lie.
Why would they tell people to lie -- a felony -- on a mortgage application?
surely you jest......
given the 10 to 20% annual appreciation, the game was to get a house,
slop some paint around, maybe put in a couple new fixtures, and flip
it.
And millions of people did just that, successfully, without LYING or
commiting
mortgage FRAUD in the process.
Post by OneTwoThree
I am still not seeing any real figures on the numbers of
"flippers" or other "investors" who were caught in this. Television
shows like "Flip This House" or "Flip That House" or "Property
Ladder" or any number of radio programs I have heard were filled with
stories of this sort.
You mean realities of that sort.
Post by OneTwoThree
I'm willing to bet
There you go again, like a typical ignorant Amerikkkunt, risking
your $$ on things about which you have no fucking clue.
Post by OneTwoThree
that a significant percentage of current
foreclosures are against people who were suckered into the turnover
mentality, thinking they were going to make a lot of money, and got
caught.
Conservative investors don't often "get caught" ...
OneTwoThree
2008-10-04 16:51:34 UTC
Permalink
Post by TigerLuck
I ran into a painter on the job who said that in his area, mortgage
brokers would deposit $30,000 into the account of a client for whom they
were trying to get a loan. The otherwise unqualified buyer would have
instant good credit. After the loan was granted, the broker pulled his
money out.
I know a broker who is doing well because who only deals in secure high
end loans. He told me a similar story about brokers telling clients to
borrow money from relatives and return it when the loan closed. He also
said that they would find appraisers who were willing to overstate
property values. Also many lenders never bothered verifying income and
sometimes told people to lie.
some mortgage brokers would push "stated income" loans. they might not tell
someone to lie, but they would explain that in a stated income loan the
borrower did not have to provide documentation.

so you are saying that the rich are not the cause of the mortgage crisis,
and by implication the poor and middle class are?


.
N***@Click.com
2008-10-04 18:28:02 UTC
Permalink
On Sat, 4 Oct 2008 09:51:34 -0700, "OneTwoThree"
Post by OneTwoThree
Post by TigerLuck
I ran into a painter on the job who said that in his area, mortgage
brokers would deposit $30,000 into the account of a client for whom they
were trying to get a loan. The otherwise unqualified buyer would have
instant good credit. After the loan was granted, the broker pulled his
money out.
I know a broker who is doing well because who only deals in secure high
end loans. He told me a similar story about brokers telling clients to
borrow money from relatives and return it when the loan closed. He also
said that they would find appraisers who were willing to overstate
property values. Also many lenders never bothered verifying income and
sometimes told people to lie.
some mortgage brokers would push "stated income" loans. they might not tell
someone to lie, but they would explain that in a stated income loan the
borrower did not have to provide documentation.
so you are saying that the rich are not the cause of the mortgage crisis,
and by implication the poor and middle class are?
You're asking Hartung?

That's laugable.
OneTwoThree
2008-10-05 08:17:47 UTC
Permalink
Post by N***@Click.com
On Sat, 4 Oct 2008 09:51:34 -0700, "OneTwoThree"
Post by OneTwoThree
Post by TigerLuck
I ran into a painter on the job who said that in his area, mortgage
brokers would deposit $30,000 into the account of a client for whom they
were trying to get a loan. The otherwise unqualified buyer would have
instant good credit. After the loan was granted, the broker pulled his
money out.
I know a broker who is doing well because who only deals in secure high
end loans. He told me a similar story about brokers telling clients to
borrow money from relatives and return it when the loan closed. He also
said that they would find appraisers who were willing to overstate
property values. Also many lenders never bothered verifying income and
sometimes told people to lie.
some mortgage brokers would push "stated income" loans. they might not tell
someone to lie, but they would explain that in a stated income loan the
borrower did not have to provide documentation.
so you are saying that the rich are not the cause of the mortgage crisis,
and by implication the poor and middle class are?
You're asking Hartung?
no, I was asking Grapman
Post by N***@Click.com
That's laugable.
it is YOU who are laffable
Reality_Check©
2008-10-05 18:24:08 UTC
Permalink
Post by OneTwoThree
Post by George Grapman
Post by TigerLuck
I ran into a painter on the job who said that in his area, mortgage
brokers would deposit $30,000 into the account of a client for whom
they were trying to get a loan. The otherwise unqualified buyer
would have instant good credit. After the loan was granted, the
broker pulled his money out.
I know a broker who is doing well because who only deals in
secure high end loans. He told me a similar story about brokers
telling clients to borrow money from relatives and return it when
the loan closed. He also said that they would find appraisers who
were willing to overstate property values. Also many lenders never
bothered verifying income and sometimes told people to lie.
some mortgage brokers would push "stated income" loans. they might
not tell someone to lie, but they would explain that in a stated
income loan the borrower did not have to provide documentation.
The borrower was still required -- by law -- to tell the truth on
the application. If they lied, they committed Bank Fraud among
other Felonies.
Post by OneTwoThree
so you are saying that the rich are not the cause of the mortgage
crisis, and by implication the poor and middle class are?
Clearly the "mortgage crisis" was triggered by deadbeat Amerikkkunts
who did not repay the $$ they borrowed and selfishly spent.

Tell us again who forced these greedy, ignorant Amerikkkans to
borrow and spend $$ they did not have in the first place?
OneTwoThree
2008-10-06 16:53:58 UTC
Permalink
Post by Reality_Check©
Post by OneTwoThree
Post by George Grapman
Post by TigerLuck
I ran into a painter on the job who said that in his area, mortgage
brokers would deposit $30,000 into the account of a client for whom
they were trying to get a loan. The otherwise unqualified buyer
would have instant good credit. After the loan was granted, the
broker pulled his money out.
I know a broker who is doing well because who only deals in
secure high end loans. He told me a similar story about brokers
telling clients to borrow money from relatives and return it when
the loan closed. He also said that they would find appraisers who
were willing to overstate property values. Also many lenders never
bothered verifying income and sometimes told people to lie.
some mortgage brokers would push "stated income" loans. they might
not tell someone to lie, but they would explain that in a stated
income loan the borrower did not have to provide documentation.
The borrower was still required -- by law -- to tell the truth on
the application. If they lied, they committed Bank Fraud among
other Felonies.
Post by OneTwoThree
so you are saying that the rich are not the cause of the mortgage
crisis, and by implication the poor and middle class are?
Clearly the "mortgage crisis" was triggered by deadbeat Amerikkkunts
who did not repay the $$ they borrowed and selfishly spent.
Tell us again who forced these greedy, ignorant Amerikkkans to
borrow and spend $$ they did not have in the first place?
that has ALWAYS been the point of me and most other conservatives
Reality_Check©
2008-10-06 17:28:02 UTC
Permalink
Post by OneTwoThree
Post by Reality_Check©
Post by OneTwoThree
Post by George Grapman
Post by TigerLuck
I ran into a painter on the job who said that in his area,
mortgage brokers would deposit $30,000 into the account of a
client for whom they were trying to get a loan. The otherwise
unqualified buyer would have instant good credit. After the loan
was granted, the broker pulled his money out.
I know a broker who is doing well because who only deals in
secure high end loans. He told me a similar story about brokers
telling clients to borrow money from relatives and return it when
the loan closed. He also said that they would find appraisers who
were willing to overstate property values. Also many lenders never
bothered verifying income and sometimes told people to lie.
some mortgage brokers would push "stated income" loans. they might
not tell someone to lie, but they would explain that in a stated
income loan the borrower did not have to provide documentation.
The borrower was still required -- by law -- to tell the truth on
the application. If they lied, they committed Bank Fraud among
other Felonies.
Post by OneTwoThree
so you are saying that the rich are not the cause of the mortgage
crisis, and by implication the poor and middle class are?
Clearly the "mortgage crisis" was triggered by deadbeat Amerikkkunts
who did not repay the $$ they borrowed and selfishly spent.
Tell us again who forced these greedy, ignorant Amerikkkans to
borrow and spend $$ they did not have in the first place?
that has ALWAYS been the point of me and most other conservatives
That Amerikkkans are greedy ignorant fucktards?

Why do you hate America?
OneTwoThree
2008-10-06 19:07:15 UTC
Permalink
Post by Reality_Check©
Post by OneTwoThree
Post by Reality_Check©
Post by OneTwoThree
Post by George Grapman
Post by TigerLuck
I ran into a painter on the job who said that in his area,
mortgage brokers would deposit $30,000 into the account of a
client for whom they were trying to get a loan. The otherwise
unqualified buyer would have instant good credit. After the loan
was granted, the broker pulled his money out.
I know a broker who is doing well because who only deals in
secure high end loans. He told me a similar story about brokers
telling clients to borrow money from relatives and return it when
the loan closed. He also said that they would find appraisers who
were willing to overstate property values. Also many lenders never
bothered verifying income and sometimes told people to lie.
some mortgage brokers would push "stated income" loans. they might
not tell someone to lie, but they would explain that in a stated
income loan the borrower did not have to provide documentation.
The borrower was still required -- by law -- to tell the truth on
the application. If they lied, they committed Bank Fraud among
other Felonies.
Post by OneTwoThree
so you are saying that the rich are not the cause of the mortgage
crisis, and by implication the poor and middle class are?
Clearly the "mortgage crisis" was triggered by deadbeat Amerikkkunts
who did not repay the $$ they borrowed and selfishly spent.
Tell us again who forced these greedy, ignorant Amerikkkans to
borrow and spend $$ they did not have in the first place?
that has ALWAYS been the point of me and most other conservatives
That Amerikkkans are greedy ignorant fucktards?
Why do you hate America?
you are fast becoming someone whose observations are not worth considering.

fact is you are a leftist hatebot. you offer noting in terms of
understanding. you just blame republicans, even though you have not the
ability to see beyond the propaganda

.
Reality_Check©
2008-10-06 19:14:19 UTC
Permalink
Post by OneTwoThree
Post by Reality_Check©
Post by OneTwoThree
Post by Reality_Check©
Post by OneTwoThree
Post by George Grapman
Post by TigerLuck
I ran into a painter on the job who said that in his area,
mortgage brokers would deposit $30,000 into the account of a
client for whom they were trying to get a loan. The otherwise
unqualified buyer would have instant good credit. After the loan
was granted, the broker pulled his money out.
I know a broker who is doing well because who only deals in
secure high end loans. He told me a similar story about brokers
telling clients to borrow money from relatives and return it when
the loan closed. He also said that they would find appraisers who
were willing to overstate property values. Also many lenders
never bothered verifying income and sometimes told people to lie.
some mortgage brokers would push "stated income" loans. they might
not tell someone to lie, but they would explain that in a stated
income loan the borrower did not have to provide documentation.
The borrower was still required -- by law -- to tell the truth on
the application. If they lied, they committed Bank Fraud among
other Felonies.
Post by OneTwoThree
so you are saying that the rich are not the cause of the mortgage
crisis, and by implication the poor and middle class are?
Clearly the "mortgage crisis" was triggered by deadbeat
Amerikkkunts who did not repay the $$ they borrowed and selfishly
spent. Tell us again who forced these greedy, ignorant Amerikkkans to
borrow and spend $$ they did not have in the first place?
that has ALWAYS been the point of me and most other conservatives
That Amerikkkans are greedy ignorant fucktards?
Why do you hate America?
you are fast becoming someone whose observations are not worth
considering.
Typical Repug, Hates America, Wrecks it, and Runs and Hides from Reality.

B'bye, Repugnikkkan.
OneTwoThree
2008-10-10 22:49:30 UTC
Permalink
Post by Reality_Check©
Post by OneTwoThree
Post by Reality_Check©
Post by OneTwoThree
Post by Reality_Check©
Post by OneTwoThree
Post by George Grapman
Post by TigerLuck
I ran into a painter on the job who said that in his area,
mortgage brokers would deposit $30,000 into the account of a
client for whom they were trying to get a loan. The otherwise
unqualified buyer would have instant good credit. After the loan
was granted, the broker pulled his money out.
I know a broker who is doing well because who only deals in
secure high end loans. He told me a similar story about brokers
telling clients to borrow money from relatives and return it when
the loan closed. He also said that they would find appraisers who
were willing to overstate property values. Also many lenders
never bothered verifying income and sometimes told people to lie.
some mortgage brokers would push "stated income" loans. they might
not tell someone to lie, but they would explain that in a stated
income loan the borrower did not have to provide documentation.
The borrower was still required -- by law -- to tell the truth on
the application. If they lied, they committed Bank Fraud among
other Felonies.
Post by OneTwoThree
so you are saying that the rich are not the cause of the mortgage
crisis, and by implication the poor and middle class are?
Clearly the "mortgage crisis" was triggered by deadbeat
Amerikkkunts who did not repay the $$ they borrowed and selfishly
spent. Tell us again who forced these greedy, ignorant Amerikkkans to
borrow and spend $$ they did not have in the first place?
that has ALWAYS been the point of me and most other conservatives
That Amerikkkans are greedy ignorant fucktards?
Why do you hate America?
you are fast becoming someone whose observations are not worth considering.
Typical Repug, Hates America, Wrecks it, and Runs and Hides from Reality.
B'bye, Repugnikkkan.
another leftbot bites the dust
Michael Coburn
2008-10-11 21:12:41 UTC
Permalink
Post by OneTwoThree
Post by Reality_Check©
Post by OneTwoThree
Post by Reality_Check©
Post by OneTwoThree
Post by Reality_Check©
Post by OneTwoThree
Post by George Grapman
Post by TigerLuck
I ran into a painter on the job who said that in his area,
mortgage brokers would deposit $30,000 into the account of a
client for whom they were trying to get a loan. The otherwise
unqualified buyer would have instant good credit. After the loan
was granted, the broker pulled his money out.
I know a broker who is doing well because who only deals in
secure high end loans. He told me a similar story about brokers
telling clients to borrow money from relatives and return it when
the loan closed. He also said that they would find appraisers who
were willing to overstate property values. Also many lenders
never bothered verifying income and sometimes told people to lie.
some mortgage brokers would push "stated income" loans. they might
not tell someone to lie, but they would explain that in a stated
income loan the borrower did not have to provide documentation.
The borrower was still required -- by law -- to tell the truth on
the application. If they lied, they committed Bank Fraud among
other Felonies.
Post by OneTwoThree
so you are saying that the rich are not the cause of the mortgage
crisis, and by implication the poor and middle class are?
Clearly the "mortgage crisis" was triggered by deadbeat
Amerikkkunts who did not repay the $$ they borrowed and selfishly
spent. Tell us again who forced these greedy, ignorant Amerikkkans
to borrow and spend $$ they did not have in the first place?
that has ALWAYS been the point of me and most other conservatives
That Amerikkkans are greedy ignorant fucktards?
Why do you hate America?
you are fast becoming someone whose observations are not worth considering.
Typical Repug, Hates America, Wrecks it, and Runs and Hides from Reality.
B'bye, Repugnikkkan.
another leftbot bites the dust
I am just as critical of Bush's "ownership society" as I have been of
Johnson's "Great Society". The difference is that Johnson was dead
serious and above board in what he was trying to do and that Democrats do
not try to blame the failures of Johnson on Republicans.
David Hartung
2008-10-04 03:09:21 UTC
Permalink
Post by George Grapman
Post by TigerLuck
I ran into a painter on the job who said that in his area, mortgage
brokers would deposit $30,000 into the account of a client for whom
they were trying to get a loan. The otherwise unqualified buyer would
have instant good credit. After the loan was granted, the broker
pulled his money out.
I know a broker who is doing well because who only deals in secure
high end loans. He told me a similar story about brokers telling clients
to borrow money from relatives and return it when the loan closed. He
also said that they would find appraisers who were willing to overstate
property values. Also many lenders never bothered verifying income and
sometimes told people to lie.
The only home I have ever purchased, came to me on wheels, and 8 years
ago, it was $20,000 brand new. Even for that paltry loan, I had to prove
my income.

Your story does not pass the smell test.
** Posted from http://www.teranews.com **
nys999
2008-10-05 03:14:39 UTC
Permalink
Post by David Hartung
Post by George Grapman
Post by TigerLuck
I ran into a painter on the job who said that in his area, mortgage
brokers would deposit $30,000 into the account of a client for whom
they were trying to get a loan. The otherwise unqualified buyer
would have instant good credit. After the loan was granted, the
broker pulled his money out.
I know a broker who is doing well because who only deals in secure
high end loans. He told me a similar story about brokers telling
clients to borrow money from relatives and return it when the loan
closed. He also said that they would find appraisers who were willing
to overstate property values. Also many lenders never bothered
verifying income and sometimes told people to lie.
The only home I have ever purchased, came to me on wheels, and 8 years
ago, it was $20,000 brand new. Even for that paltry loan, I had to
prove my income.
Your story does not pass the smell test.
** Posted from http://www.teranews.com **
Ahhhhh, during the Clinton years.
Adam Whyte-Settlar
2008-10-05 15:10:46 UTC
Permalink
Post by David Hartung
Post by George Grapman
Post by TigerLuck
I ran into a painter on the job who said that in his area, mortgage
brokers would deposit $30,000 into the account of a client for whom they
were trying to get a loan. The otherwise unqualified buyer would have
instant good credit. After the loan was granted, the broker pulled his
money out.
I know a broker who is doing well because who only deals in secure
high end loans. He told me a similar story about brokers telling clients
to borrow money from relatives and return it when the loan closed. He
also said that they would find appraisers who were willing to overstate
property values. Also many lenders never bothered verifying income and
sometimes told people to lie.
The only home I have ever purchased, came to me on wheels, and 8 years
ago, it was $20,000 brand new. Even for that paltry loan, I had to prove
my income.
Pre-Bush economic system. Things have *changed* in the last eight years
dude.
Where have you been?
David Hartung
2008-10-04 02:09:03 UTC
Permalink
Post by TigerLuck
I ran into a painter on the job who said that in his area, mortgage
brokers would deposit $30,000 into the account of a client for whom they
were trying to get a loan. The otherwise unqualified buyer would have
instant good credit. After the loan was granted, the broker pulled his
money out.
Evidence please.

** Posted from http://www.teranews.com **
N***@Click.com
2008-10-04 18:27:31 UTC
Permalink
On Fri, 03 Oct 2008 21:09:03 -0500, David Hartung
Post by David Hartung
Post by TigerLuck
I ran into a painter on the job who said that in his area, mortgage
brokers would deposit $30,000 into the account of a client for whom they
were trying to get a loan. The otherwise unqualified buyer would have
instant good credit. After the loan was granted, the broker pulled his
money out.
Evidence please.
Don't need to see evidence

The entire mess centered around risky (but legal) Loans
given, then bundled, sold, resold and profit made---not
on the repayment interest, but the speculation of the
rise in interest.
David Hartung
2008-10-04 18:48:58 UTC
Permalink
Post by N***@Click.com
On Fri, 03 Oct 2008 21:09:03 -0500, David Hartung
Post by David Hartung
Post by TigerLuck
I ran into a painter on the job who said that in his area, mortgage
brokers would deposit $30,000 into the account of a client for whom they
were trying to get a loan. The otherwise unqualified buyer would have
instant good credit. After the loan was granted, the broker pulled his
money out.
Evidence please.
Don't need to see evidence
Typical, accuse but do not support the accusation.
** Posted from http://www.teranews.com **
Reality_Check©
2008-10-05 18:13:25 UTC
Permalink
Post by N***@Click.com
On Fri, 03 Oct 2008 21:09:03 -0500, David Hartung
Post by David Hartung
Post by TigerLuck
I ran into a painter on the job who said that in his area, mortgage
brokers would deposit $30,000 into the account of a client for whom
they were trying to get a loan. The otherwise unqualified buyer
would have instant good credit. After the loan was granted, the
broker pulled his money out.
Evidence please.
Don't need to see evidence
The entire mess centered around risky (but legal) Loans
given,
You mean *taken* by ignorant greedy Amerikkkans.
Post by N***@Click.com
then bundled, sold, resold and profit made
That's how capitalism works, numbnuts.
Post by N***@Click.com
---not on the repayment interest, but the speculation of the
rise in interest.
The speculation on the increase equity from market value was on
the part of the greedy ignorant Amerikkkan homebuyers.
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