What is going on with all the mortgage fraud?

[Anonymous]

Anonymous wrote:

Anonymous wrote:Surprised this thread wasnt deleted like the previous three I created. Cook, James and Schiff all will be indicted. This.is the new Nanny Tax for the Dems.

I also had one that was deleted. It’s truly amazing that free speech is such a threat to leftists. As they are left licking their wounds from the recent electoral shellacking, one would think that they might eventually consider that adopting positions in line with the majority of the populace could be a winning strategy. But no, they instead cling to their unpopular beliefs and just try to silence anyone who doesn’t toe their line.

Funny coming from the same people who a throwing people in jail for criticizing them.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Sheesh, stop paying attention to the lies from right wing media.

Are you claiming that applying for mortgages on two properties, more or less simultaneously—and claiming both as your primary residence—is not mortgage fraud?

MAGAs told me it’s not fraud unless you don’t pay back the loan and the bank loses money.

I also heard it's not fraud when a MAGA republican does it so.....I mean look at our "president"

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Sheesh, stop paying attention to the lies from right wing media.

Are you claiming that applying for mortgages on two properties, more or less simultaneously—and claiming both as your primary residence—is not mortgage fraud?

Coming from the source, and given everything the GOP is getting away with, no is is not a crime. Nothing is a crime anymore. Get it? This is about power and getting rid of a black woman from the Fed. White men can do WTFTW but not any one else. That is our country now.

Release the EPSTEIN FILES!!

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Sheesh, stop paying attention to the lies from right wing media.

Are you claiming that applying for mortgages on two properties, more or less simultaneously—and claiming both as your primary residence—is not mortgage fraud?

MAGAs told me it’s not fraud unless you don’t pay back the loan and the bank loses money.

You get a lower rate if it’s your primary residence, but you have to swear to that effect.

Donald Trump got a lower rate when he lied to banks about his assets. MAGA said that was fine because he paid the loan.

No, he actually didn’t, which is an important point. He simply made a representation as to what his property was worth in attempting to secure a loan. Properties are worth what someone is willing to pay at any given time, so the banks had an opportunity to conduct their own independent assessment; they did not dispute his assessment and granted the loan. He did not receive any reduced rate, unlike Lisa Cook, and the bank did not suffer any harm.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Sheesh, stop paying attention to the lies from right wing media.

Are you claiming that applying for mortgages on two properties, more or less simultaneously—and claiming both as your primary residence—is not mortgage fraud?

MAGAs told me it’s not fraud unless you don’t pay back the loan and the bank loses money.

You get a lower rate if it’s your primary residence, but you have to swear to that effect.

Donald Trump got a lower rate when he lied to banks about his assets. MAGA said that was fine because he paid the loan.

No, he actually didn’t, which is an important point. He simply made a representation as to what his property was worth in attempting to secure a loan. Properties are worth what someone is willing to pay at any given time, so the banks had an opportunity to conduct their own independent assessment; they did not dispute his assessment and granted the loan. He did not receive any reduced rate, unlike Lisa Cook, and the bank did not suffer any harm.

lol OK.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Sheesh, stop paying attention to the lies from right wing media.

Are you claiming that applying for mortgages on two properties, more or less simultaneously—and claiming both as your primary residence—is not mortgage fraud?

MAGAs told me it’s not fraud unless you don’t pay back the loan and the bank loses money.

You get a lower rate if it’s your primary residence, but you have to swear to that effect.

Donald Trump got a lower rate when he lied to banks about his assets. MAGA said that was fine because he paid the loan.

No, he actually didn’t, which is an important point. He simply made a representation as to what his property was worth in attempting to secure a loan. Properties are worth what someone is willing to pay at any given time, so the banks had an opportunity to conduct their own independent assessment; they did not dispute his assessment and granted the loan. He did not receive any reduced rate, unlike Lisa Cook, and the bank did not suffer any harm.

Lisa Cook just made a representation as to the property. The banks had an opportunity to conduct their own independent assessment and granted the loan. She didn’t get a reduced rate and the bank didn’t suffer any harm.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Sheesh, stop paying attention to the lies from right wing media.

Are you claiming that applying for mortgages on two properties, more or less simultaneously—and claiming both as your primary residence—is not mortgage fraud?

MAGAs told me it’s not fraud unless you don’t pay back the loan and the bank loses money.

You get a lower rate if it’s your primary residence, but you have to swear to that effect.

Donald Trump got a lower rate when he lied to banks about his assets. MAGA said that was fine because he paid the loan.

No, he actually didn’t, which is an important point. He simply made a representation as to what his property was worth in attempting to secure a loan. Properties are worth what someone is willing to pay at any given time, so the banks had an opportunity to conduct their own independent assessment; they did not dispute his assessment and granted the loan. He did not receive any reduced rate, unlike Lisa Cook, and the bank did not suffer any harm.

Lisa Cook just made a representation as to the property. The banks had an opportunity to conduct their own independent assessment and granted the loan. She didn’t get a reduced rate and the bank didn’t suffer any harm.

+1. The banks got an additional asset (the loan) that performed. Otherwise she would have gone to a private lender. She provided the bank with a high quality loan.

[Anonymous]

Stupid real estate agent here: primary residence is most important for tax purposes as you have certain tax benefits from your primary residence, especially if you sell it and have a large capital gain.

[Anonymous]

MAGA thinks white collar crime is just “smart business skills”. Because they’ve ignored all of it from republicans and put the ultimate fraudster in the highest position in the world.

I wonder why this upsets them? Oh, targeting political opposition. It’s not at all about rule of law, it’s about retribution.

I’d love nothing more than to prosecute ALL white collar crime, but I can’t take you or the GOP seriously when it’s so laughably a two tier system. If you want me to care about prosecuting the small things, you better get to prosecuting the big things. Clean up your own house first.

[Anonymous]

Anonymous wrote:Even IF it were fraud, Trump did much worse.

He also did sketchy things with claiming residency in Florida while still living in NYC.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Sheesh, stop paying attention to the lies from right wing media.

Are you claiming that applying for mortgages on two properties, more or less simultaneously—and claiming both as your primary residence—is not mortgage fraud?

MAGAs told me it’s not fraud unless you don’t pay back the loan and the bank loses money.

You get a lower rate if it’s your primary residence, but you have to swear to that effect.

Donald Trump got a lower rate when he lied to banks about his assets. MAGA said that was fine because he paid the loan.

No, he actually didn’t, which is an important point. He simply made a representation as to what his property was worth in attempting to secure a loan. Properties are worth what someone is willing to pay at any given time, so the banks had an opportunity to conduct their own independent assessment; they did not dispute his assessment and granted the loan. He did not receive any reduced rate, unlike Lisa Cook, and the bank did not suffer any harm.

Lisa Cook just made a representation as to the property. The banks had an opportunity to conduct their own independent assessment and granted the loan. She didn’t get a reduced rate and the bank didn’t suffer any harm.

Are you stupid? There’s no gray area in designating a primary residence – you’re either telling the truth or you’re lying.

There is a lot of gray area in assessing the value of a property. That’s why properties sit on the market for months or a year and have multiple rounds of price reductions. It’s quite normal for a property owner to think their property is worth more than it actually is.

Not to mention the rank hypocrisy of someone being essentially in charge of setting interest rates for the country and also cheating to get a lower interest rate for herself.

[Anonymous]

My assumption since this all started is that Pulte is using AI to comb through data available at Fannie and Freddie to target Dems. Why?? Because everyone commits mortgage fraud if even a bit of information is purposely erroneous. Trump knows that game very well, so he's using it on the Dems that he wants to stick it to. People are very afraid and they should be.

[Anonymous]

Anonymous wrote:My assumption since this all started is that Pulte is using AI to comb through data available at Fannie and Freddie to target Dems. Why?? Because everyone commits mortgage fraud if even a bit of information is purposely erroneous. Trump knows that game very well, so he's using it on the Dems that he wants to stick it to. People are very afraid and they should be.

I don’t even think it’s AI, I think he’s being given a list of people to target from Stephen Miller or similar and rooting through all their documents. And Trump wants to do this with the IRS too, that’s why there’s been a parade of acting IRS commissioners so far because it’s a federal crime to allow them access to that info and they haven’t found anyone yet who will do it.

Also, I think for this to be a crime you need to show intent to commit fraud, rather than just a box that was checked in error, which is difficult to do. Attorneys feel free to correct me if I’m wrong.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Sheesh, stop paying attention to the lies from right wing media.

Are you claiming that applying for mortgages on two properties, more or less simultaneously—and claiming both as your primary residence—is not mortgage fraud?

MAGAs told me it’s not fraud unless you don’t pay back the loan and the bank loses money.

You get a lower rate if it’s your primary residence, but you have to swear to that effect.

Donald Trump got a lower rate when he lied to banks about his assets. MAGA said that was fine because he paid the loan.

No, he actually didn’t, which is an important point. He simply made a representation as to what his property was worth in attempting to secure a loan. Properties are worth what someone is willing to pay at any given time, so the banks had an opportunity to conduct their own independent assessment; they did not dispute his assessment and granted the loan. He did not receive any reduced rate, unlike Lisa Cook, and the bank did not suffer any harm.

Lisa Cook just made a representation as to the property. The banks had an opportunity to conduct their own independent assessment and granted the loan. She didn’t get a reduced rate and the bank didn’t suffer any harm.

Are you stupid? There’s no gray area in designating a primary residence – you’re either telling the truth or you’re lying.

There is a lot of gray area in assessing the value of a property. That’s why properties sit on the market for months or a year and have multiple rounds of price reductions. It’s quite normal for a property owner to think their property is worth more than it actually is.

Not to mention the rank hypocrisy of someone being essentially in charge of setting interest rates for the country and also cheating to get a lower interest rate for herself.

Not true at all. Homes bought for the purpose of sheltering a family member - a child, sibling, parent, or other dependent - can count as a "primary" residence for the purposes of F2 underwriting. We don't know if there is a 2nd person on these loans.

Here's the definition from Freddie Mac:

Primary Residence
A Primary Residence is the residential property physically occupied by an owner as the principal home domicile, except as specifically stated in Section 4201.11 for active-duty military Borrowers. Among the criteria the Seller should consider in evaluating whether a property is a principal home domicile are the following:

It is occupied by the owner for the major portion of the year.
It is in a location relatively convenient to the owner's principal place of employment.
It is the address of record for such activities as federal income tax reporting, voter registration, occupational licensing and similar functions.
It possesses the physical characteristics to accommodate the owner's immediate dependent family. These characteristics are those traditional to both the owner and the neighborhood.
The Borrower states an intention to occupy the property as a Primary Residence.

Freddie Mac may, in its discretion, determine that a property is not a Primary Residence.

https://guide.freddiemac.com/app/guide/content/a_id/1001276

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Sheesh, stop paying attention to the lies from right wing media.

Are you claiming that applying for mortgages on two properties, more or less simultaneously—and claiming both as your primary residence—is not mortgage fraud?

MAGAs told me it’s not fraud unless you don’t pay back the loan and the bank loses money.

You get a lower rate if it’s your primary residence, but you have to swear to that effect.

Donald Trump got a lower rate when he lied to banks about his assets. MAGA said that was fine because he paid the loan.

No, he actually didn’t, which is an important point. He simply made a representation as to what his property was worth in attempting to secure a loan. Properties are worth what someone is willing to pay at any given time, so the banks had an opportunity to conduct their own independent assessment; they did not dispute his assessment and granted the loan. He did not receive any reduced rate, unlike Lisa Cook, and the bank did not suffer any harm.

Lisa Cook just made a representation as to the property. The banks had an opportunity to conduct their own independent assessment and granted the loan. She didn’t get a reduced rate and the bank didn’t suffer any harm.

Are you stupid? There’s no gray area in designating a primary residence – you’re either telling the truth or you’re lying.

There is a lot of gray area in assessing the value of a property. That’s why properties sit on the market for months or a year and have multiple rounds of price reductions. It’s quite normal for a property owner to think their property is worth more than it actually is.

Not to mention the rank hypocrisy of someone being essentially in charge of setting interest rates for the country and also cheating to get a lower interest rate for herself.

Not true at all. Homes bought for the purpose of sheltering a family member - a child, sibling, parent, or other dependent - can count as a "primary" residence for the purposes of F2 underwriting. We don't know if there is a 2nd person on these loans.

Here's the definition from Freddie Mac:

Primary Residence
A Primary Residence is the residential property physically occupied by an owner as the principal home domicile, except as specifically stated in Section 4201.11 for active-duty military Borrowers. Among the criteria the Seller should consider in evaluating whether a property is a principal home domicile are the following:

It is occupied by the owner for the major portion of the year.
It is in a location relatively convenient to the owner's principal place of employment.
It is the address of record for such activities as federal income tax reporting, voter registration, occupational licensing and similar functions.
It possesses the physical characteristics to accommodate the owner's immediate dependent family. These characteristics are those traditional to both the owner and the neighborhood.
The Borrower states an intention to occupy the property as a Primary Residence.

Freddie Mac may, in its discretion, determine that a property is not a Primary Residence.

https://guide.freddiemac.com/app/guide/content/a_id/1001276

Exactly, and I've yet to see a rule that says you can't have two primary residences. I work with a guy whose lives with his family in a house in NY. During the weekdays, he works in Virginia and stays in a condo he owns in VA. He travels back to NY on the weekends and stays there. Which one is is his primary residence under this definition? Seems like each fits some factors but not others. So does he have no primary residence? Or does he have two?