Real Estate Appraisal Forum

appraisersforum.com logo
The Premiere Online Community for Real Estate Appraisers!
 Fastest Way to Find a Real Estate Appraiser Enter Zip Code:
 
 
Go Back   Appraisers Forum > Other Forums > General Real Estate and Real Estate Finance
Register Help Our Rules Calendar Archives Mark Forums Read


Closed Thread
 
Thread Tools
  #1  
Old 05-13-2009, 02:09 PM
RACHAEL COHEN RACHAEL COHEN is offline
 
Join Date: Jan 2003
Location: NORTHERN CALIFORNIA
State: California
Professional Status: Certified Residential Appraiser
Posts: 22
Default I knew it!

Net Branch Sued Over YSPs to Hispanics
A net branch firm based in California has been sued by the government over allegations that its originators charged higher yield-spread premiums to Hispanic borrowers. The 45-branch operation says it originates $2 billion annually.
Golden Empire Mortgage Inc. was sued last week in U.S. District Court For the Central District of California by the Federal Trade Commission, according to a copy of the complaint.

Also named as a defendant is owner Howard D. Kootstra.
http://www.MortgageDaily.com/Discrim...mpire051109.as



Any comments especially CA appraisers?
Sponsored Links

  #2  
Old 05-13-2009, 03:32 PM
Novajehova Novajehova is offline
 
Join Date: Oct 2007
State: California
Professional Status: Certified Residential Appraiser
Posts: 27
Default

I bet you!... these LO's were also hispanic!~ cannibalistic world we live in! beware!
  #3  
Old 05-13-2009, 06:00 PM
Caligirl's Avatar
Caligirl Caligirl is offline
 
Join Date: Jan 2006
Location: West Coast
State: California
Professional Status: Certified General Appraiser
Posts: 4,413
Default Subprime at it's finest.

Check out Countrywide's own foreclosures site. Look carefully at areas with the highest levels of foreclosures-run some demographics on them and you'll notice what appears to me to be a PATTERN. I wouldn't be surprised if the majority of these 'lenders' were all doing the same things.
__________________
Just keepin' on, keeping on.
  #4  
Old 05-13-2009, 06:53 PM
Karl Karl is offline
 
Join Date: Jan 2002
Location: Arizona City AZ
State: Arizona
Professional Status: Licensed Appraiser
Posts: 7,602
Default

Lenders HAD TO lend to many that couldn't, wouldn't pay back the money or face the fines & possibly shut down, from the goverrnment for discrimination!! Not saying the banks are the good guys just saying the government are the "Badder" guys.
  #5  
Old 05-14-2009, 03:08 PM
MikeinLA MikeinLA is offline
 
Join Date: Jan 2009
State: California
Professional Status: Certified General Appraiser
Posts: 284
Default

Quote:
Originally Posted by Karl View Post
Lenders HAD TO lend to many that couldn't, wouldn't pay back the money or face the fines & possibly shut down, from the goverrnment for discrimination!! Not saying the banks are the good guys just saying the government are the "Badder" guys.
Yes, the Leftist dogma that EVERYBODY deserves to own a home has been proven to be a disaster. Reminds me of the GREEN (I'm beginning to hate that word) light bulbs they are trying to mandate that contain so much mercury that there is a 15 step EPA guideline on what to do when you break one. Yeah, that's good for the environment. Or the Prius batteries or.....don't get me started.

Mike
__________________
No, I'm not new. I just changed my username.
  #6  
Old 05-14-2009, 03:57 PM
Cob's Avatar
Cob Cob is offline
 
Join Date: Mar 2006
State: Texas
Professional Status: Certified Residential Appraiser
Posts: 854
Default

Quote:
Originally Posted by MikeinLA View Post
Yes, the Leftist dogma that EVERYBODY deserves to own a home has been proven to be a disaster. Reminds me of the GREEN (I'm beginning to hate that word) light bulbs they are trying to mandate that contain so much mercury that there is a 15 step EPA guideline on what to do when you break one. Yeah, that's good for the environment. Or the Prius batteries or.....don't get me started.

Mike
You do know that the "the Leftist dogma that EVERYBODY deserves to own a home" was going on while Bush was in office. I really wish people would stop being blinded by the whole left/right thing, because all of the public is just really in the middle getting screwed. I live in Austin and they mandated a recycle system that give you a BIG container to put paper and plastic items in, it was suppose to be great for everyone, well in an article in the paper about a month ago it was revealed that Dallas and San Antonio have both made a handsome profit from the exact program. But Austin has LOST $987,000 and collected about 33% more paper/plastic than Dallas. But hey as long as people feel good about themselves.

Last edited by Cob : 05-14-2009 at 04:02 PM.
  #7  
Old 05-14-2009, 04:44 PM
Greg Bell's Avatar
Greg Bell Greg Bell is offline
 
Join Date: Jul 2006
State: Louisiana
Professional Status: Gvmt Agency, FNMA, HUD, VA etc.
Posts: 3,023
Default

Bush was just another leftie.He sure wasn't a Conservative.Obama knows knows the fundamentals of Marxism...He is running left...so enjoy lefties...buy some beans and ammo with food stamps...
  #8  
Old 05-14-2009, 08:21 PM
timd354's Avatar
timd354 timd354 is offline
 
Join Date: Jan 2008
Location: Baltimore-Washington Metro Area
State: Maryland
Professional Status: Certified Residential Appraiser
Posts: 4,753
Default

Quote:
Originally Posted by Novajehova View Post
I bet you!... these LO's were also hispanic!~ cannibalistic world we live in! beware!
I am sure that you are absolutely right....I have friends in the mortgage business that have said that being a Spanish speaking loan officer is like having a license to kill.
__________________
This post solely represents my personal opinion which may not reflect the policies of my employer
  #9  
Old 05-20-2009, 11:27 AM
murray stroupe murray stroupe is offline
 
Join Date: Apr 2005
Location: west tennessee
State: Tennessee
Professional Status: General Public
Posts: 2,237
Wink Re

Quote:
Originally Posted by timd354 View Post
I am sure that you are absolutely right....I have friends in the mortgage business that have said that being a Spanish speaking loan officer is like having a license to kill.
==================
Probably mean bilingual, but reguardless of that;
it may not really be related to hispanics at all.

For example wonder what % of those Hispanics that Rachel Cohen mentioned had an interest bearing bank account????????????????
Innocent til proven guilty reguardless.

And by the way, i like doing business with Hispanics..............................
Sponsored Links

Closed Thread


Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Forum Jump




Copyright © 2000-, AppraisersForum.com, All Rights Reserved
     Terms of Use  Privacy Policy
AppraisersForum.com is proudly hosted by the folks at AppraiserSites.com

Fastest Way to Find a Real Estate Appraiser Enter Zip Code:
Partner Sites:
AppraiserUSA.com - National Appraiser Directory AllDomainsUSA.com - Domain Name Registration
DeadbeatListings.com - Deadbeat ListingsAppraiserSites.com - Web Hosting for the Professional Real Estate Appraiser
Find FHA Appraisers - FHA Appraiser Search Commercial Appraisers - Commercial Appraiser Search
Relocation Appraisal - Find Relocation Appraisers Domain Reseller - Business Opportunity
Home Security Buzz - Home Security Info Radon Testing - Radon Gas Info
My Medicare Forum - Medicare Info Stop Smoking Help - Help Quitting Smoking
CordlessPhoneStore.com - Great Cordless Phones AndroidTabletCity.com - Android Tablet Computers

Follow AppraisersForum.com:          Find us on Facebook            Follow us on Twitter


All times are GMT -5. The time now is 02:32 PM.

SiteMap: 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45, 46, 47, 48, 49, 50, 51, 52, 53, 54, 55, 56, 57, 58, 59, 60, 61, 62, 63, 64, 65, 66, 67, 68, 69, 70, 71, 72, 73, 74, 75, 76, 77, 78, 79, 80, 81, 82, 83, 84, 85, 86, 87, 88, 89, 90, 91, 92, 93