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10-04-2022, 12:39 PM #20
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.The Brokers Nightmare
I don't want peace, I want problems, ALWAYS!
Florida-Based
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