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FEDS: Leave Mortgage Industry Alone?

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Julio E. Sune Jr. (FL)

Senior Member
Joined
Jan 16, 2002
Professional Status
Certified Residential Appraiser
State
Florida
http://realtytimes.com/rtpages/20080611_millerreport.htm

"According to Attorney General Michael B. Mukasey there's no need for a federal task-force to unearth big-name mortgage fraud."

"Federal regulators did nothing while national lenders issued millions of toxic loans during the past five years and booked huge short-term profits. They now want state regulators to examine national banks, knowing full well the state regulators lack the authority to do so."

So.......now we are to get a bond to solve the above???????..........No way!!!!!!!
 

Lost Cause

Senior Member
Joined
Sep 17, 2004
Professional Status
Certified General Appraiser
State
New York
There's certainly no doubt that the complete lack of enforcement from federal regulators is not simple incompetance. It is obviously purposeful. The question is, to what purpose?
 

moh malekpour

Elite Member
Joined
May 25, 2002
Professional Status
Certified Residential Appraiser
State
California
There's certainly no doubt that the complete lack of enforcement from federal regulators is not simple incompetance. It is obviously purposeful. The question is, to what purpose?
To create a false impression that the economy was booming.
 

Workbox

Elite Member
Joined
Mar 2, 2005
Professional Status
Certified Residential Appraiser
State
Colorado
To create a false impression that the economy was booming.
I'm telling you, after the elections, they are going to cut loose the rope. All the Good Ole Boys and Girls are filling their pockets before it all goes to H$!!.
 

Jonsey

Member
Joined
Feb 24, 2007
Professional Status
Appraiser Trainee
State
Florida
Oh, and don't forget to take $40,000 out of your petty cash to pony up for that bond in order to fix everything.
[/QUOTE]

Considering the HVCC, this bond business reeks of AMC influence.
 

tjcou812

Junior Member
Joined
Aug 17, 2007
Professional Status
Certified Residential Appraiser
State
Connecticut
This just makes me sick. They will get away with a slap on the wrist and us appraisers will have to pay the piper for their greed.
 

Julio E. Sune Jr. (FL)

Senior Member
Joined
Jan 16, 2002
Professional Status
Certified Residential Appraiser
State
Florida
QUOTE___"This just makes me sick. They will get away with a slap on the wrist and us appraisers will have to pay the piper for their greed."

The question is.....What can we do about it????

Fight back!!!! [PC]
 
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