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re: Trump owes lenders $450 million yet there were no complaints from the lenders.
Posted on 2/18/24 at 7:30 am to KiwiHead
Posted on 2/18/24 at 7:30 am to KiwiHead
quote:
I assure you after almost 20 years of dealing with NY banks that they were quite aware of the valuations and any overrepresentation. They have whole departments that look at this sort of thing .
If there was fraud, they participated and were just fine with the valuations presented.....including his penthouse and Mar a Lago which might have been a little high, but not out of the realm of reasonable.
I don’t know the details of what happened and yes the bank should do their own valuations from a third party. But this isn’t just a run of the mill Fannie loan so I have no idea what they do with them.
3
Posted on 2/18/24 at 7:35 am to DavidTheGnome
quote:
I don’t know the details
That was enough.
Perhaps you should educate yourself before opining on the subject matter.
Posted on 2/18/24 at 7:37 am to DavidTheGnome
quote:
But this isn’t just a run of the mill Fannie loan so I have no idea what they do with them.
Yes we know, you have proven before you have no idea what you are talking about. Yet you claim to be in the loan world
Posted on 2/18/24 at 10:20 am to DavidTheGnome
quote:
I don’t know the details of what happened
Let me summarize this whole thing for you:
#1 - there are TWO signatures on those contracts. The Trump Org and the bank. They AGREED to the terms of said contract. End of discussion.
Or….if you really want to put this in plain terms of where this can go…..
#2 - I have some improvements done to my house, and now I want to refinance my home. The appraiser values my home on the higher end of the range to be sure I get the best possible rates. After my home has been paid off, the government, which did not sign the mortgage contract can then come in and sue me…WTF?
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