NY, FirstAM & WaMu article

[Carnivore]

Maybe it's time for me to take the bar????

Why waste time doing that. Considering your background and appraisal experince your worth a lot as a consultant to these big firms!

Get on the phone ASPAP and make offers!! Go git'm girl. Nows your chance to make a difference and finally profit from the lending community.

Look folks, many of these lenders showed no loyalty to you, why would you show loyalty or understanding back to them.

 

[Deuce of Spades]

Excuse me. I'd say the billions of dollars realized by the lenders wasn't too shabby.

You are correct, but I tend to believe that they will end up paying out lots of that in class action suits and lawyers fees.

When class action suits occur or any type of litigation, it is mostly the lawyers that make out. My neighbor is a legal assistant defending corps in litgation cases. When the settlement comes down, the pursuing lawyers get over 80-90% of the $$$ (30%+- and all the expenses). Leaves very little for the plantiff. The plantiff usually does not realize what a rip off the deal was for them and spent all this time chasing very little in return. JMO

 

[Tawfik Ahdab]

Speaking of class-action suits: here's another one.

http://money.cnn.com/news/newsfeeds/articles/primenewswire/130626.htm

HARTFORD, Conn., Nov. 6, 2007 (PRIME NEWSWIRE) -- The law firm of Schatz Nobel Izard P.C., which has significant experience representing investors in prosecuting claims of securities fraud, announces that a lawsuit seeking class action status has been filed in the United States District Court for the Southern District of New York on behalf of all persons who purchased the common stock of Washington Mutual, Inc. ("Washington Mutual" or the "Company") (NYSE:WM) between October 18, 2006 to November 1, 2007.

The Complaint charges that Washington Mutual and certain of its officers and directors violated federal securities laws by issuing materially false statements regarding the Company's business and financial results. Specifically, the Company failed to disclose: (i) that it had far greater exposure to anticipated losses and defaults in its home loan portfolio, particularly with Option-ARMs, than it had previously disclosed; (ii) that defendants' statements that they were implementing defensive measures to weather the increasingly difficult credit and housing markets were false; (iii) that defendants had engaged in a conspiracy to inflate the appraisal value of homes with the intent to artificially increase the estimated loan-to-value ratio of its Option-ARM portfolio; and (iv) that due to the Company's improper appraisal practices, the mortgages it had issued were much riskier than represented.

And yet another suit filed by a San Diego firm

http://seattletimes.nwsource.com/html/businesstechnology/2003995998_bizbriefs06.html

 

[Carnivore]

Tawfik,

Let me first compliment you on proper use of the Fair Use Clause for copyright on this article.

Just enough to pique our interest and the link to read more. Very Good!


When spring comes the snow begins to melt. It starts out as a trickle. As each day passes and the weather gets warmer the trickle soon increases to a nice steady flow. Each day more and more water is seen coming under the bridges. Eventually, its a reging torrent, usually causing some flooding and putting people temporarily of homes to even destroying there homes.

 

[Couch Potato]

You are correct, but I tend to believe that they will end up paying out lots of that in class action suits and lawyers fees.

When class action suits occur or any type of litigation, it is mostly the lawyers that make out. My neighbor is a legal assistant defending corps in litgation cases. When the settlement comes down, the pursuing lawyers get over 80-90% of the $$$ (30%+- and all the expenses). Leaves very little for the plantiff. The plantiff usually does not realize what a rip off the deal was for them and spent all this time chasing very little in return. JMO

Settlements in class action suits work very much like appraisal fees in AMCs. :new_smile-l:

 

[Carnivore]

Deuce,

None the less, the plantiffs still got something, and better yet they took a lot away from the defendent. If they had not filed at all , the lender would just have it kept all of it!

So there is an element of revenge.

 

[john brown]

What is a X509 and were can I get info on it?

I will compose the instructions on how to acquire and use a digital ID / X509 signature, and try to post this weekend. I realize that maybe there are too many usages of something so simple and therefore lack of 123 steps.

The instructions are surprisingly simple if you have an hour or two of time to spend to understand what you are doing.

There are free X509/Digital certificates that you can use to sign not only PDF files but also your emails, and many other document types. If you are paying more than $50 (annually) for the certificate, you are probably looking at a service that has far more functionality than you will probably need.

 

[Riick]

I will compose the instructions on how to acquire and use a digital ID / X509 signature, and try to post this weekend. I realize that maybe there are too many usages of something so simple and therefore lack of 123 steps.

The instructions are surprisingly simple if you have an hour or two of time to spend to understand what you are doing.

There are free X509/Digital certificates that you can use to sign not only PDF files but also your emails, and many other document types. If you are paying more than $50 (annually) for the certificate, you are probably looking at a service that has far more functionality than you will probably need.

Excellent !!
Looking forwad to reading & learning a new trick.

 

[Carnivore]

Excellent !!
Looking forwad to reading & learning a new trick.

triple dittos to that. Now we are making some progress.

 

[Doug Trites]

I will compose the instructions on how to acquire and use a digital ID / X509 signature, and try to post this weekend. I realize that maybe there are too many usages of something so simple and therefore lack of 123 steps.

John,

Thank you for the help. I will be looking forward to seeing the post:new_llying: