Louisiana Is Getting Ready To Settle With The Ftc Whether The La. Board Likes It Or Not

[EddieB]

Oh...Thats OK. Neither is the OP of this thread who rendered his opinion as to the situation or the inevitable outcome.

Actually the OP is an attorney but he seems to have left the building

 

[Meandering]

Actually the OP is an attorney but he seems to have left the building

Naw,
He was an attorney, but is no longer licensed to practice.

 

[djd09]

Now i am confused. Mich CG told me he was a lawyer. He says he is a Chief appraiser at a insurer. What's the deal?

 

[Meandering]

Verify a license.

Works in most every state.

.

 

[djd09]

I think he is a paid mouthpiece for CRN.

 

[Meandering]

The good and fine people of LA should really think about all of this.

The fine for violating Appraiser Independence is $10,000 the first day and $20,000 every day after that, as stated in the Federal Law.

There have been 2306 days between 4/1/2011 and today.

So $10,000 for 4/1/2011 plus
2305 times $20,000

equals

$46,100,000

Nice way to help a broke state out,

Oh, but that'd have to be multiplied by the number of violaters.

 

[Meandering]

Wow. You are really on a roll. I suspect your analysis of all this is just as solid as the analysis that resulted in your assertion that the average fee had to be paid.
Have a good one!

Hey Danny,

That selective reading is going to catch up to you guys.

That average fee, was in reference to what the borrower can be charged, read it all again.

And here's where my prior post came from.

cfpb TRiD update;
http://files.consumerfinance.gov/f/...ral-Mortgage-Disclosure-Requirements_TILA.pdf
page 118
See that?
and then look up the law they updated:
12 CFR 1026.19.
Pay very close attention to section (f) (2)(ii) and Section (f) (3).

 

[DWiley]

Hey Danny,

That selective reading is going to catch up to you guys.

That average fee, was in reference to what the borrower can be charged, read it all again.

And here's where my prior post came from.

cfpb TRiD update;
http://files.consumerfinance.gov/f/...ral-Mortgage-Disclosure-Requirements_TILA.pdf
page 118
See that?
and then look up the law they updated:
12 CFR 1026.19.
Pay very close attention to section (f) (2)(ii) and Section (f) (3).

Selective reading? I can only assume that you mean YOUR selective reading. It was YOU that posted that use of average fees would be required, when in fact, use of average fees was just an example used to illustrate their position on consistency. You continue to both amuse and amaze

 

[Meandering]

One more thought for you and Tim and all interested parties.

If the state levies those fines,
can the state keep all that money for themselves?
Or do they have to split that money with a federal agency?

AMCs might be able to help out a whole bunch of "broke" states.

After all,
DAs are on salary.
Might as well give them something to do.

.

 

[Meandering]

Selective reading? I can only assume that you mean YOUR selective reading. It was YOU that posted that use of average fees would be required, when in fact, use of average fees was just an example used to illustrate their position on consistency. You continue to both amuse and amaze

Read the updated law citations I referenced.