tag:blogger.com,1999:blog-6323554779266663124.post2604949987095807445..comments2023-11-03T04:45:26.986-05:00Comments on Proprietor Nation: The Villains of H.R. 3915mike volpehttp://www.blogger.com/profile/00858580982582146161noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-6323554779266663124.post-38209082695220149162007-11-09T15:43:00.000-06:002007-11-09T15:43:00.000-06:00All said, there is plenty of sleaze to go around. ...All said, there is plenty of sleaze to go around. As a mortgage banker that only brokered only 10% of my business, I really don't see this as a threat. It will take out those that used the the term Stated Income as "State Your Income". Fortunately, I never confused the two.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6323554779266663124.post-44283503106331348032007-11-09T11:04:00.000-06:002007-11-09T11:04:00.000-06:00First, whenever we hear anything vague like predat...First, whenever we hear anything vague like predatory lending and unscrupulous practices, to the consumer it means,<BR/><BR/>YOU HAVEN'T SIGNED ENOUGH PAPERWORK YET.<BR/><BR/>Second, I didn't know that providing mortgages so that people could buy property was sleazy. <BR/><BR/>Third, as my follow up piece pointed out, there were five separate entities that contributed to the crisis. Ignoramous like you only know about mortgage brokers. You don't put any responsibility on the bank or the consumer. <BR/><BR/>You don't even know that Wall Street and Congress played just as big a role. Yet, you say this a good law even though you don't know anything about the crisis or how it deals with each of the five entities.<BR/><BR/>This isn't merely a bad law because it will put me out of business. It is a bad law because it attacks one group for an even that happened because of the symbiosis of five different groups.<BR/><BR/>If you are right, not only did I create loans that people couldn't afford, but find them property they couldn't afford, then find a market for those loans, and finally I also created all the needless paperwork that made it easy for the borrower to get confused. <BR/><BR/>Did I do all of it, or is it more likely that I exploited the events around me. The mortgage broker's fault in this matter was using the opportunities given to them by every other entity to do bad. The thing is mortgage brokers have been scum for a long time. It is not new. So if people couldn't predicted that creating all sorts of ridiculous unverifiable loans would be exploited by my colleagues, they really should have known better.mike volpehttps://www.blogger.com/profile/00858580982582146161noreply@blogger.comtag:blogger.com,1999:blog-6323554779266663124.post-36251131789672788362007-11-09T10:55:00.000-06:002007-11-09T10:55:00.000-06:00Grow up you whining little complainer. The only re...Grow up you whining little complainer. The only reason that this law is needed is because money grubbing people like you are trying to take advantage of low income consumers who get stuck in mortgage loans that they clearly cannot afford, then are forced into delinquency and foreclosure. The people supporting this bill are attempting to protect consumers from unscrupulous predatpry lending practices that do more harm than good. If this law is so detrimental to your career, try getting a less sleazy career that doesnt ruin people's lives.Anonymousnoreply@blogger.com