NY, FirstAM & WaMu article

[Pamela Crowley (Florida)]

DaveT, maybe their real purpose is to unlock, 'convert', and send the appraisal data to the AIRD?????

Sure looks like they all are involved in doing that.

Now, what benefits are the lenders getting for being involved in this?????

 

[Pamela Crowley (Florida)]

Does the NY AG have this stuff on the other AMCs?

Some of it. The NY AG is not the only one either.

 

[Brad Ellis]

Denis,

I noted that there are comments about NY not being able to go after WAMU due to jurisdiction issues.

I am not sure that is correct. They loaned in NY, they recorded mortgage documents in NY, etc. Seems to me that they did business in NY and could be included easily.

I am wondering why they did not? And Pam tells us she has even more on LSI yet they were not included in the suit either. I wonder again why not?

Do you have any thoughts on that?

Brad

 

[Brad Ellis]

Pam,

Thanks. It could get even more interesting shortly.

Per my post to Denis, I am wondering why WAMU was not included? I am wondering why LSI was not included?

Do you know or have a theory you can share?

Brad

 

[Pamela Crowley (Florida)]

I'm keeping my speculations about that off line for now, Brad.

 

[George Hatch]

The idea might be to work the weakest link and offer a plea bargain in exchange for cooperating with the bigger fish.

A large AMC works with multiple lenders.

 

[Lost Cause]

I suspect that Mr. Cuomo figured why should he waste tax dollars pursuing WaMu when Bear Stearns and other Wall Streeters will take care of it.

Don't you think Bear Stearns' lawyers are strategizing as I type this about how they want to handle it?
***************************

 

[Moon Pie]

Yes troll with the little fish and catch a whopper!

 

[The Matrix]

As long as the commissioned loan broker has the right to hire and fire the appraiser.....the loan broker has control over the outcome of the appraisal.

 

[Bigrock]

Catch the little guy and have him turn on the big guy.

It looks like its the OJ prosecution all over,,,

I can only hope Rels and Landsafe are next in line,,

To bad Georgia's AG has no balls