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Old 09-22-2022, 12:15 AM   #61
Stevecsd2
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When I watched the news this morning the attorney general was claiming fraud on loans using one of Trump's properties as collateral. She said Trump claimed the office or living space was 30,000 square feet, but she said it was really 10,000 square feet. This doesn't even pass the smell test. You don't think banks know exactly how many square feet a property is that they are reviewing for a loan. They would either send an appraiser to the property or use existing ones from a neutral third party. If the appraiser or third party appraiser lied, they would be on the hook for civil or criminal actions.

If the rest of her case is like this she's going to lose.
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Old 09-22-2022, 01:39 AM   #62
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When I watched the news this morning the attorney general was claiming fraud on loans using one of Trump's properties as collateral. She said Trump claimed the office or living space was 30,000 square feet, but she said it was really 10,000 square feet. This doesn't even pass the smell test. You don't think banks know exactly how many square feet a property is that they are reviewing for a loan. They would either send an appraiser to the property or use existing ones from a neutral third party. If the appraiser or third party appraiser lied, they would be on the hook for civil or criminal actions.

If the rest of her case is like this she's going to lose.
Gotta agree. There are built in rules of doing business that should have caught that discrepancy. Unless somebody took a bribe or just plain screwed upÖÖno way a building is misrepresented by that much.

Commercial real estate usually gets more than one appraisal on big deals. How this kind of thing could have happen , who knows?

Insurance inspectors should have it caught it too. Every year my building gets 2 insurance inspections. One at renewal and one at the mid point of the 12 month policy period.
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Old 09-22-2022, 02:58 AM   #63
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only a demoncrat would think a major lender would not follow their fiduciary duty.

Letitia needs bump for her campaign.
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Old 09-22-2022, 03:19 AM   #64
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Didn't the feds already investigate all of this? And I'm to believe that the IRS isn't all over Trump's taxes on the regular and why not refer to NYS tax and finance? And why aren't the banks responsible at all if this is so terrible.

But if this huge fraud was going on all of this time I should probably not vote for the party that looked the other way as long as he was a donor. If Trump never ran for office and was still writing those campaign checks James would be kissing his butt.
Geez, Are you dense! The banks were the ones being defrauded.
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Old 09-22-2022, 03:22 AM   #65
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Geez, Are you dense! The banks were the ones being defrauded.
and yet they were not .... alleged loans were paid in full and bankers were not complaining



maybe you could give us the msnbc explanation
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Old 09-22-2022, 03:23 AM   #66
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When I watched the news this morning the attorney general was claiming fraud on loans using one of Trump's properties as collateral. She said Trump claimed the office or living space was 30,000 square feet, but she said it was really 10,000 square feet. This doesn't even pass the smell test. You don't think banks know exactly how many square feet a property is that they are reviewing for a loan. They would either send an appraiser to the property or use existing ones from a neutral third party. If the appraiser or third party appraiser lied, they would be on the hook for civil or criminal actions.

If the rest of her case is like this she's going to lose.
Apparently the banks do no such thing.
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Old 09-22-2022, 03:29 AM   #67
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and yet they were not .... alleged loans were paid in full and bankers were not complaining



maybe you could give us the msnbc explanation
I donít know if thatís true or not. The crime is that Trump misrepresented the value of his properties in order to obtain larger loans at more favorable rates. That is illegal. As for the banks doing due diligence, if Trump was a favored customer they may have just taken his word-dumb as that may be.
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Old 09-22-2022, 09:30 AM   #68
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I donít know if thatís true or not. The crime is that Trump misrepresented the value of his properties in order to obtain larger loans at more favorable rates. That is illegal. As for the banks doing due diligence, if Trump was a favored customer they may have just taken his word-dumb as that may be.





if it is illegal , she would be charging him. If it was a civil issue ,the banks would be suing him. This is the weakest shit anyone has tried yet. Your defense of this is almost as bad as when you said it is no big deal Biden raped his daughter in the shower for years.
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Old 09-22-2022, 12:11 PM   #69
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It's pretty problematic for Trump though don't you think?
Everything has been a problem for Trump since he decided to run and win in 2015-2016.
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Old 09-22-2022, 01:18 PM   #70
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if it is illegal , she would be charging him. If it was a civil issue ,the banks would be suing him. This is the weakest shit anyone has tried yet. Your defense of this is almost as bad as when you said it is no big deal Biden raped his daughter in the shower for years.
Is the bank he allegedly defrauded the STEELE National Bank?
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Old 09-22-2022, 03:19 PM   #71
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I donít know if thatís true or not. The crime is that Trump misrepresented the value of his properties in order to obtain larger loans at more favorable rates. That is illegal. As for the banks doing due diligence, if Trump was a favored customer they may have just taken his word-dumb as that may be.
There was a time when banks were giving "no-income-verification" mortgages. If one's credit rating was decent, banks took on the risk. A bank loan is always a RISK to the bank. "Rates," more favorable or less so, are based on credit rating; property value usually plays a lesser roll.

Whatever the basis for a bank's decision to grant a loan, their only concern is that the CONTRACT be honored, i.e. paid in full, even if not on time. Banks renegotiate loans, when necessary, and even if ultimately not paid in full, they don't (and can't) bring a "criminal" case against you for a bad debt. Debtors' prison has long been defunct. What they can do is confiscate the "collateral" (the properties) that the loan was based on. The recovery value of the properties would be at present value, not what its value was determined to be at the time of the loan. Real estate values fluctuate almost on a daily basis. That is it!

In reality, James' claim for bank fraud is none of her business, even if true. A contract was agreed upon, the debt was, apparently, paid, and both parties had no complaints, misrepresentations, if any, or not.
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Old 09-22-2022, 03:22 PM   #72
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There was a time when banks were giving "no-income-verification" mortgages. If one's credit rating was decent, banks took on the risk. A bank loan is always a RISK to the bank. "Rates," more favorable or less so, are based on credit rating; property value usually plays a lesser roll.

Whatever the basis for a bank's decision to grant a loan, their only concern is that the CONTRACT be honored, i.e. paid in full, even if not on time. Banks renegotiate loans, when necessary, and even if ultimately not paid in full, they don't (and can't) bring a "criminal" case against you for a bad debt. Debtors' prison has long been defunct. What they can do is confiscate the "collateral" (the properties) that the loan was based on. The recovery value of the properties would be at present value, not what its value was determined to be at the time of the loan. Real estate values fluctuate almost on a daily basis. That is it!

In reality, James' claim for bank fraud is none of her business, even if true. A contract was agreed upon, the debt was, apparently, paid, and both parties had no complaints, misrepresentations, if any, or not.
That's not how literally any of this actually works.

Not directly entirely at you but there is a serious lack of understanding on display here on how lenders and the lending process in general works.
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Old 09-22-2022, 03:26 PM   #73
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That's not how literally any of this actually works.

Not directly entirely at you but there is a serious lack of understanding on display here on how lenders and the lending process in general works.
Actually, since you are involved with bank loans, I was thinking of what your input would be, when I wrote this. Please explain how it does work.
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Old 09-22-2022, 03:50 PM   #74
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Actually, since you are involved with bank loans, I was thinking of what your input would be, when I wrote this. Please explain how it does work.
If I request documents and am provided with false ones you've committed fraud.

Regardless of repayment fraud has been committed.

Regardless of whether or not I did my due diligence fraud was committed.

I'm too lazy to look in to the specifics of what happened here but if tax returns were provided to lenders that differ from the ones provided to the IRS thats as open/shut as it gets.
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Old 09-22-2022, 04:21 PM   #75
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If I request documents and am provided with false ones you've committed fraud.

Regardless of repayment fraud has been committed.

Regardless of whether or not I did my due diligence fraud was committed.

I'm too lazy to look in to the specifics of what happened here but if tax returns were provided to lenders that differ from the ones provided to the IRS thats as open/shut as it gets.
How about if a couple pages of a disclaimer is included basically saying that we have valued our assets as we consider their worth. Many of these properties are unique and difficult to get comparables on. Please have your lawyers and appraisers do your own evaluations.
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