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Firm fined $60M for abusive loan practices

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bobburnitt

Junior Member
Joined
Jan 16, 2002
Leon Stewart said:
It seems as if everything in the Mortgage Process is designed to use one or two situations or Individuals as examples to correct something that's wrong with the System, rather than changing the procedures or rules to prevent anyone or any company from taking advantage of the loopholes. They should start by removing the Appraisal Process and control from the Lenders which would eliminate most of the fraud dealing with mortgages.

leon
THE NAIL ON THE HEAD!!!!!!!!!

The government is only a token enforcer of ANYTHING!! it's not just this crummy business.

BB in Texas
 

Larry Lyke

Senior Member
Joined
Feb 2, 2002
Cledit --

That'd probably be a little too strong. First Alliance put enough of the realized profits into their own pocket to make the venture and risk worthwhile.

I don't think you can link houses built for Christians to the venture motive. The government is the party assigning the punishment settlement.

Robin Hood is always lurking someplace. But is not the motive. Robin Hood only emerges in the aftermath.

This little o'l tree hugger don't take no doctor meds. Those is for SICK people!

Smile.
 

Leon Stewart

Member
Joined
Jan 15, 2002
BB:

They always try to make examples of "a" person rather than correct the defect in the system. By correcting the System they wouldn't have to keep charging one individual after the other for violating the same procedure. They could eliminate a lot of "White collar" Crime by creating that type of policy.

leon
 

bobburnitt

Junior Member
Joined
Jan 16, 2002
Leon Stewart said:
BB:

They always try to make examples of "a" person rather than correct the defect in the system. By correcting the System they wouldn't have to keep charging one individual after the other for violating the same procedure. They could eliminate a lot of "White collar" Crime by creating that type of policy.

leon
Amen Brudda!!!!

BB
 

Non Sequitur

Elite Member
Supporting Member
Joined
Feb 14, 2002
Professional Status
Certified Residential Appraiser
State
Louisiana
Larry, I am smiling.[/quote]
 
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