Is this what they call "lender pressure"?

[Doug in NC]

Stephen,

I took your advice, I am turning them in to the state banking commission. I have filled out their online form and will mail it to them next week. Let's see if justice will prevail.

Doug

 

[Richard Carlsen]

It is amazing that somewhere along the line, the terms "Fast" and "Cheap" became synonymous. In my vocabulary, fast means extra effort, disruption of normal routine, enormous scheduling decisions, hard work, inconvenience.

When someone says "Fast" to me, they better not say “Cheap” anywhere in the same paragraph or conversation. “Fast” means I am going to work harder to accomplish something in a shorter period of time. And just like those big old V-8 engines of long ago, if you want to go fast, it takes lots more fuel. So if you want me to go fast, and you are not one of my really great clients, the word “Cheap” is not going to even get my attention.

Not that I have ever taken anything extra for doing something "Fast", it's just that I don't like to have my intelligence insulted by someone wanting something "Fast" and "Cheap" at the same time. This old boy doesn't work that way.

 

[jtrotta]

Richard

it matters to me how FAST they can plunk down that "4 million" in my overseas account; I will then become Cheap & Dirty all in the same period of time. :lol:

8)

 

[bobburnitt]

Well in Texas, you can "turn them in" until you are blue in the face, they ain't gonna do nuttin honey.

I filed two complaints on mortgage brokers recently with the Texas Savings & Loan Department. They 'regulate' mortgage brokers and loan 'officers' (the term loan officer is so ridiculous to me) in Texas. Did a follow-up call to make sure they received my complaints, and was told by the investigator that the Savings & Loan Dept. would no longer process complaints from appraisers. They will only process complaints from 'consumers'.

Caught some people in a flip scheme a while back, called the FBI at recommendation of the Texas Appraiser Licensing & Certification Board, the FBI told me to call them when it gets into the "millions of dollars". I guess there is a million dollar di-minimus on fraud.

I keep trying though.

The news media gets real excited about Enron, WorldCom, Xerox and the like, but this is much, much bigger because it occurs at the "grass roots" level all over the country. Lender fraud happens everywhere anybody has a mortgage lending sign hung out.

BB in Texas

 

[Mike Garrett RAA]

Now lets see....they want us to be fast, cheap, hit the number, and wait until the deal closes for our fee...do I have that right?

I think you failed to mention, "be available 24/7, accept the fact they forgot to order the appraisal until 4pm on Friday and want it back by 8am Monday morning. and collect an extra $100 from the home owner at the door with the check made out to the lender".

Oh yes, one more thing....don't expect them to be EDI ready because "we don't have a color printer!"....so send us 3 sets of the report with 15 sets of original photos ( we want to shop wholesalers ) via FED EX overnight..and your fee should cover the overnight charges too!