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Message
re: So in this civil Trump trial
Posted on 11/6/23 at 3:05 pm to wackatimesthree
Posted on 11/6/23 at 3:05 pm to wackatimesthree
are you stupid? where can I go, anywhere on planet earth, and borrow millions of dollars against real estate based only on my own opinion of the value of said real estate. please tell me.
2
Posted on 11/6/23 at 3:05 pm to Warboo
exactly
This post was edited on 11/6/23 at 3:06 pm
Posted on 11/6/23 at 3:06 pm to Vacherie Saint
quote:
are you stupid? where can I go, anywhere on planet earth, and borrow millions of dollars against real estate based only on my own opinion of the value of said real estate. please tell me.
I will answer for him.....YOU CAN'T.
Posted on 11/6/23 at 3:07 pm to BBONDS25
quote:
Good point. Please describe the damages.
Once again, just do some reading my man.
From what I understand, the damages are based on profits that Trump Org have made through the loans that were fraudulently obtained, things like the extra interest that they stole from the bank that the bank would have charged them had they known that the loan was riskier than the documents revealed etc. etc.
Posted on 11/6/23 at 3:07 pm to Vacherie Saint
quote:
I'm telling you that this is not illegal. You can tell the bank whatever the frick you want. If you expect them to lend you money on said house, the onus is on the bank to do an independent appraisal of the collateral, validate your ability to pay, check your credit, etc... Its not uncommon for appraisals to come back with wildly different values - especially on large commercial real estate.
This is true. I had to fill out a personal wealth sheet when borrowing money for a commercial property. The only thing they asked for was a recent balance on the brokerage account. All of my real estate valuations were self labeled. I am sure they would have independently checked if the amount of the loan was high enough to warrant.
Posted on 11/6/23 at 3:08 pm to RedStickFox
quote:
the damages
Who was damaged? Who would they pay damages to?
Posted on 11/6/23 at 3:10 pm to Vacherie Saint
quote:
Its called underwriting.
So you already know that in the underwriting process, the bank hires an appraiser to perform the valuation. The appraiser addresses the report to the bank, and expects the value opinion to be relied upon by that bank for that purpose.
Yet this is not what happened
This post was edited on 11/6/23 at 3:21 pm
Posted on 11/6/23 at 3:11 pm to RedStickFox
quote:
From what I understand, the damages are based on profits that Trump Org have made through the loans that were fraudulently obtained, things like the extra interest that they stole from the bank that the bank would have charged them had they known that the loan was riskier than the documents revealed etc. etc.
That is a bank issue/appraiser issue. When I get my property appraised they come check the acreage, square ft., etc. prior to lending to me. Trump properties are no different.
This post was edited on 11/6/23 at 3:14 pm
Posted on 11/6/23 at 3:11 pm to AGGIES
quote:
Yet this has a not what happened
Why not?
Posted on 11/6/23 at 3:13 pm to Warboo
Yep trump is free to value his property at whatever the hell he wants. Now selling it for that price is another matter.
Posted on 11/6/23 at 3:13 pm to Vacherie Saint
quote:
but you, nor anyone else, have proven anything. All you have is differing opinions about real estate values and usable square footage on some old, non-binding financial statements.
You can say this all you want, but it's already been ruled on. Trump org lied on the documents for years. People have even testified to those facts.
And I'm sorry, but you're only defense seems to be "well you are allowed to put any information you want on a financial disclosure and you won't get in any trouble."
That's an utterly absurd statement.
Posted on 11/6/23 at 3:14 pm to RedStickFox
everything you just typed is a lie. like a very laughably bad lie.
first of all, banks dont secure collateral that they dont independently verify- ever. so this refrain of yours that they lent him money based o his own appraisal is horseshite.
second of all, it was widely reported that all of Trump's loans in question were paid back with full interest. no one lost money. In fact, one bank made approx 40MM in interest on a single Trump loan.
first of all, banks dont secure collateral that they dont independently verify- ever. so this refrain of yours that they lent him money based o his own appraisal is horseshite.
second of all, it was widely reported that all of Trump's loans in question were paid back with full interest. no one lost money. In fact, one bank made approx 40MM in interest on a single Trump loan.
Posted on 11/6/23 at 3:15 pm to TDTOM
quote:
Why not?
Exactly, why not?
Posted on 11/6/23 at 3:15 pm to Vacherie Saint
quote:
are you stupid? where can I go, anywhere on planet earth, and borrow millions of dollars against real estate based only on my own opinion of the value of said real estate. please tell me.
One of us is definitely stupid.
Whether the bank does their due diligence or not, you're not allowed to falsely report assets on a loan application.
You know that little disclaimer at the bottom that tells you that knowingly misrepresenting the information you provided is a crime? The bank not doing their due diligence on the loan doesn't negate that sentence.
Punishable By Up To 30 Years
You moron.
I would explain again that this is a malicious and frivolous lawsuit, but apparently you are one of the posters on this board whose IQ is too low for anything but completely binary thinking. You didn't read it the first time so I wouldn't expect you to read it this time.
Someone asked a question about the difference between two scenarios and I answered the question.
This post was edited on 11/6/23 at 3:19 pm
Posted on 11/6/23 at 3:17 pm to heymama
quote:
Here you go...
I appreciate it. All 850 pages of it.
Posted on 11/6/23 at 3:18 pm to RedStickFox
quote:
You can say this all you want, but it's already been ruled on. Trump org lied on the documents for years. People have even testified to those facts.
And I'm sorry, but you're only defense seems to be "well you are allowed to put any information you want on a financial disclosure and you won't get in any trouble."
That's an utterly absurd statement.
Again you are estimating or relying on hear say. I will give you a "for instance".....If I submit that my house is 10k ft2 and its actually 5k ft2 the bank will send a appraiser to my house and will find the error. This is a bank/appraiser issue. I have never heard of anyone actually being brought to court for incorrect info. on a loan application until now.
This post was edited on 11/6/23 at 3:20 pm
Posted on 11/6/23 at 3:18 pm to RedStickFox
quote:
The lazy thing is to ask someone to go dig around for documents to prove lies that have already been proven VIA a court decision and even by the persons own admission.
it’s customary around here to provide a link to verify your assertion. Also, I love you think district court rulings are never overturned.
Posted on 11/6/23 at 3:18 pm to wackatimesthree
Has the prosecution paid for independent appraisals by multiple third parties to refute President Trump’s claims? Or are they basing it on their own personal assumptions arrived at through jealousy and hatred of the man?
Posted on 11/6/23 at 3:19 pm to Warboo
if by some miracle of miracles, a bank did a real estate secured loan without an independent assessment (they dont), they are by default assuming the risk. The bank inherently assumes the risks of lending money, which is why they work so hard to verify the strength of the loan and to secure it with collateral whenever possible. You dont get to skip due diligence then cry fraud if things dont work out.
But even still... last I checked there are no bankers at the plaintiff's desk here, so we've yet to find a victim for this "fraud".
But even still... last I checked there are no bankers at the plaintiff's desk here, so we've yet to find a victim for this "fraud".
Posted on 11/6/23 at 3:20 pm to Vacherie Saint
quote:
I'm telling you that this is not illegal. You can tell the bank whatever the frick you want.
I appreciate your opinion. You don't know what you are talking about.
LINK
quote:
Annotation
Section 1014 of the Federal banking law prohibits any person from making a false statement to almost any Federally chartered or Federally insured financial institution to obtain a loan or credit extension.
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