Reply to What is going on with all the mortgage fraud?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Sheesh, stop paying attention to the lies from right wing media.[/quote]

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?[/quote]

MAGAs told me it’s not fraud unless you don’t pay back the loan and the bank loses money.[/quote] You get a lower rate if it’s your primary residence, but you have to swear to that effect. [/quote]

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

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.[/quote]

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.[/quote]

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