Trump lawsuits

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09-21-2022, 06:04 PM
abfunders

Trump lawsuits

Is the Orange Grimace on DataMerch yet? He's on the NY court website!

https://iapps.courts.state.ny.us/nys...sultsPageNum=1

As a person involved in finances, if we assume that he lied, I view this as really really bad. Will the right-wing podcasters shrug it off? When a merchant gets blacklisted from lending because he fudged a number, we accept it. But if Trump fudges numbers, should he be able to get away with it? How many underwriters would reject financing Trump, but are die-hard pro-Trump enthusiasts? Everyone has the benefit of innocent until proven guilty, so I'm curious from a forum of lending, what the optics are in your minds? Can Trump do no wrong, therefore a black liberal woman DA is automatically assumed to be 100% politically-driven in her quest? Curious to hear your thoughts.

Also, interesting article. Axos Bank refi'ed Trump. They're also the bank that originates a ton of WBL deals and a lot of brokers have their accounts there. https://www.nbcnews.com/politics/don...oney-rcna22068
09-21-2022, 06:58 PM
Olderguy

Were you around in 2008 when Countrywide sold to Bank of America and all the loans were packaged and went south? Same thing different time. NegAms, 80/20 100% purchase financing stated income.
09-22-2022, 09:30 AM
BR-Nightmare

Quote:

Originally Posted by abfunders

Is the Orange Grimace on DataMerch yet? He's on the NY court website!

https://iapps.courts.state.ny.us/nys...sultsPageNum=1

As a person involved in finances, if we assume that he lied, I view this as really really bad. Will the right-wing podcasters shrug it off? When a merchant gets blacklisted from lending because he fudged a number, we accept it. But if Trump fudges numbers, should he be able to get away with it? How many underwriters would reject financing Trump, but are die-hard pro-Trump enthusiasts? Everyone has the benefit of innocent until proven guilty, so I'm curious from a forum of lending, what the optics are in your minds? Can Trump do no wrong, therefore a black liberal woman DA is automatically assumed to be 100% politically-driven in her quest? Curious to hear your thoughts.

Also, interesting article. Axos Bank refi'ed Trump. They're also the bank that originates a ton of WBL deals and a lot of brokers have their accounts there. https://www.nbcnews.com/politics/don...oney-rcna22068

As Trump said "Why plead the 5th?? That's a coward move...."

As Trump also said "Under the advice of counsel I will invoke my 5th Amendment as provided to me by the constitution" blah blah blah

Cases like these go straight to plea bargains in due time. But as Trump's history shows, he drags that mf'er.

Nothing worth keeping my eye on because no two sides can ever say the actual truth.
09-22-2022, 11:49 AM
Michael I

Quote:

Originally Posted by abfunders

Is the Orange Grimace on DataMerch yet? He's on the NY court website!

https://iapps.courts.state.ny.us/nys...sultsPageNum=1

As a person involved in finances, if we assume that he lied, I view this as really really bad. Will the right-wing podcasters shrug it off? When a merchant gets blacklisted from lending because he fudged a number, we accept it. But if Trump fudges numbers, should he be able to get away with it? How many underwriters would reject financing Trump, but are die-hard pro-Trump enthusiasts? Everyone has the benefit of innocent until proven guilty, so I'm curious from a forum of lending, what the optics are in your minds? Can Trump do no wrong, therefore a black liberal woman DA is automatically assumed to be 100% politically-driven in her quest? Curious to hear your thoughts.

Also, interesting article. Axos Bank refi'ed Trump. They're also the bank that originates a ton of WBL deals and a lot of brokers have their accounts there. https://www.nbcnews.com/politics/don...oney-rcna22068

She will lose this case and cost taxpayers millions of dollars, and she wont care because it is all political and will not cost her a penny .It is up to lenders to do their own due diligence and appraisals then come up with what they want to do .
09-22-2022, 06:08 PM
Olderguy

Quote:

Originally Posted by Michael I

She will lose this case and cost taxpayers millions of dollars, and she wont care because it is all political and will not cost her a penny .It is up to lenders to do their own due diligence and appraisals then come up with what they want to do .

Wow....guess the rule of law doesn't matter to you or anyone else in the country? Fraudsters that are former presidents must have complete immunity in your universe.
09-23-2022, 08:56 AM
BR-Nightmare

Quote:

Originally Posted by Olderguy

Wow....guess the rule of law doesn't matter to you or anyone else in the country? Fraudsters that are former presidents must have complete immunity in your universe.

Bet his minions storm the courtroom.........
09-23-2022, 08:58 AM
Olderguy

I've got $20 bucks that says he loses and settles.
09-23-2022, 09:20 AM
Oxforddan

Quote:

Originally Posted by Olderguy

Wow....guess the rule of law doesn't matter to you or anyone else in the country? Fraudsters that are former presidents must have complete immunity in your universe.

Fair point. Can you name a former president that wasn't a fraudster?
09-23-2022, 09:30 AM
Olderguy

Quote:

Originally Posted by Oxforddan

Fair point. Can you name a former president that wasn't a fraudster?

Not to the extent that the Donald has committed. More people charged in his administration and more lawsuits pending for him far exceeds any former President in the history of our country. Look up the word Sociopath in the dictionary. You will see a picture of Donald Trump.
09-23-2022, 09:48 AM
BR-Nightmare

Quote:

Originally Posted by Olderguy

Not to the extent that the Donald has committed. More people charged in his administration and more lawsuits pending for him far exceeds any former President in the history of our country. Look up the word Sociopath in the dictionary. You will see a picture of Donald Trump.

Facts.

This isn't a red or blue situation.

The man knows how to cheat the system, but apparently he did it a little too much. So if he were to be caught red handed, with all the evidence in the world, will people still claim it to be a setup?
09-23-2022, 09:48 AM
Oxforddan

Quote:

Originally Posted by Olderguy

Not to the extent that the Donald has committed. More people charged in his administration and more lawsuits pending for him far exceeds any former President in the history of our country. Look up the word Sociopath in the dictionary. You will see a picture of Donald Trump.

I wont sit here and defend him. There are more than enough topics to dislike him about. Why pick one everyone else does as well? Doesn't make sense. Every president in my lifetime has been a criminal. Some just hide it better than others. A bank failing to do sufficient due diligence on assets they are collateralizing is probably the most minimal thing he has done wrong. Don't you do collateralized deals all day long? Is every client that you have ever gotten an amazing appraisal for a fraudster now too?
09-23-2022, 10:25 AM
Olderguy

Since everybody cheats, it's OK....just the big or stupid ones get caught.

Actually you may not be far off the truth.

The objective of business is to screw people and make a profit.

That's the definition of capitalism.
09-23-2022, 10:45 AM
Oxforddan

At no point did I say its OK. I just stated that there are way more egregious topics to point out relative to Trump. Seems like anyone in the industry thinking he did something so bad, is kind of the pot calling the kettle black.
09-23-2022, 11:13 AM
Olderguy

Quote:

Originally Posted by Oxforddan

At no point did I say its OK. I just stated that there are way more egregious topics to point out relative to Trump. Seems like anyone in the industry thinking he did something so bad, is kind of the pot calling the kettle black.

All politicians serve at the pleasure of their donors. Donald is just worse in that respect.
09-23-2022, 11:30 AM
Michael I

Quote:

Originally Posted by Olderguy

Wow....guess the rule of law doesn't matter to you or anyone else in the country? Fraudsters that are former presidents must have complete immunity in your universe.

explain to me why it is new york suing and not the banks ? also why is she filing civil not criminal ?
09-23-2022, 11:34 AM
Oxforddan

He wont answer any questions directly. It is all just deflection and redirection. Answering questions with questions. I don't care red/blue however the lack of self reflection or accountability blows my mind.

I am not a Trump fan, however let a lender value my house for triple what its worth and I am damn sure cashing that check. Does that make me a fraudster or does that mean that the bank needs to reevaluate how they underwrite?
09-23-2022, 11:38 AM
Olderguy

Quote:

Originally Posted by Oxforddan

He wont answer any questions directly. It is all just deflection and redirection. Answering questions with questions. I don't care red/blue however the lack of self reflection or accountability blows my mind.

I am not a Trump fan, however let a lender value my house for triple what its worth and I am damn sure cashing that check. Does that make me a fraudster or does that mean that the bank needs to reevaluate how they underwrite?

All the above.
09-26-2022, 08:53 AM
Hedley Lamarr

Quote:

Originally Posted by Michael I

explain to me why it is new york suing and not the banks ? also why is she filing civil not criminal ?

She is Civil. Criminal is a different office and working the same case.
10-04-2022, 12:26 PM
creloan

RE: Trump Lawsuits

IMHO it's another political witch hunt.

A borrower can't just "over state the value" of real estate assets in order to get a larger loan.

Banks don't just take a borrowers word for that. There's this little thing called performing due diligence and getting an arms length appraisal, no matter who you are.

Hasn't anyone noticed that the dems have brought up countless accusations ever since he was elected in an "attempt to overthrow a duly elected president " - 4 years worth? All ending up as nothing?

Before he was elected they kissed his ass. When he beat Hillary all of a sudden he was an enemy of the state.

They're just trying to keep him from ever running for office again.

I don't think he can run again. They succeeded in turning public opinion against him no matter whether any charges were true or not.

But again IMHO this is all political male bovine excretion.

No skin off my ass either way, or yours so who really gives a flying what - not?

Quote:

Originally Posted by abfunders

Is the Orange Grimace on DataMerch yet? He's on the NY court website!

https://iapps.courts.state.ny.us/nys...sultsPageNum=1

As a person involved in finances, if we assume that he lied, I view this as really really bad. Will the right-wing podcasters shrug it off? When a merchant gets blacklisted from lending because he fudged a number, we accept it. But if Trump fudges numbers, should he be able to get away with it? How many underwriters would reject financing Trump, but are die-hard pro-Trump enthusiasts? Everyone has the benefit of innocent until proven guilty, so I'm curious from a forum of lending, what the optics are in your minds? Can Trump do no wrong, therefore a black liberal woman DA is automatically assumed to be 100% politically-driven in her quest? Curious to hear your thoughts.

Also, interesting article. Axos Bank refi'ed Trump. They're also the bank that originates a ton of WBL deals and a lot of brokers have their accounts there. https://www.nbcnews.com/politics/don...oney-rcna22068
10-04-2022, 12:30 PM
Olderguy

Right...threatening violence and overthrowing a fair election is just a witch hunt huh?

Sounds like Fascism to me.
10-04-2022, 12:39 PM
BR-Nightmare

Quote:

Originally Posted by creloan

A borrower can't just "over state the value" of real estate assets in order to get a larger loan.

Banks don't just take a borrowers word for that. There's this little thing called performing due diligence and getting an arms length appraisal, no matter who you are.

Um, a borrower can over state the value of their assets. And yes, Banks do take their word for it. This is coming from a bank loan originator for 5+ years who now is on the other side as an underwriter.

Both Trump and the Bank can and should be held liable. However, the way our justice system works, nothing extreme is going to happen here.

This is all a matter of KYC blowing up in the banks face and taking the Borrower's word. Due Diligence here for this caliber of transaction can somewhat slip through the cracks, just not drastic enough to warrant immediate regulatory red flags. With so many assets under this mans name, one cant sit there and evaluate them all for proper values when the borrower may have some sort of rapport.
10-04-2022, 01:00 PM
Olderguy

Bank executives were in on the fraud and were forced out of the company. Same Ol' Sheit....
10-04-2022, 01:09 PM
BR-Nightmare

Quote:

Originally Posted by Olderguy

Bank executives were in on the fraud and were forced out of the company. Same Ol' Sheit....

Steve, don't say that here. You're going to make republicans angry.
10-04-2022, 03:35 PM
Olderguy

Quote:

Originally Posted by BR-Nightmare

Steve, don't say that here. You're going to make republicans angry.

But Hillary's emails?
10-05-2022, 08:47 AM
BR-Nightmare

Quote:

Originally Posted by Olderguy

But Hillary's emails?

Don't you dare......
10-05-2022, 10:50 AM
FCF Fund

Quote:

Originally Posted by Olderguy

But Hillary's emails?

The funny thing about Hillary emails, when GOP was in the Whitehouse they didnt bring up any charges against her, for 4 YEARS. In fact, Trump strengthened criminal penalties for mishandling sensitive documents, it's now a felony.

So now the lock her up crowd is deflecting with witch hunt rhetoric when the coin is flipped and feckless leader got caught, wait for it......mishandling sensitive documents lol

To say it's ironic would be an understatement.