How low can we go? 30 yr fixed at 3.75% with no fees...
- Thread starter ps99472
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NEW -> Contingent Buyer Assistance Program
sleepy5136
Well-known member
It'll be interesting to see how this plays out legally. But even if it legally rules in her favor, the optics are badAnyone remember what the refinance environment was in 2021? 60-90 days to get a loan processed for most folks. If your 2021 refi closed faster, it was a friggin' miracle....
Evidently, Lisa Cook had a miracles take place for both of her transactions. That can only be as both of her refinance loans closed within 2 weeks of each other June 18th, and July 2nd of 2021. What does this mean dear reader?... Both applications were originated and in process with two different lenders at the same time with both being owner occupied transactions. Any decent fraudster knows you don't dual process, but wait 7-10 days to apply after the first one closes - lowering the risk of discovery by each bank (so I'm told).
I can't see any excusable way out of this, so resign she must.
morekaos
Well-known member
Charges and resignation and or termination to follow…
The investigation follows a criminal referral that was sent to the DOJ by Federal Housing Finance Agency Director Bill Pulte, and the case is being conducted by Ed Martin.
thepostmillennial.com
DOJ launches criminal probe into Fed Governor Lisa Cook over mortgage fraud allegations
The allegations are centered on whether Cook listed more than one of her properties as her primary residence, which allows for more favorable interest rates on loans when she applied for mortgages.The investigation follows a criminal referral that was sent to the DOJ by Federal Housing Finance Agency Director Bill Pulte, and the case is being conducted by Ed Martin.
NEW: DOJ launches criminal probe into Fed Governor Lisa Cook over mortgage fraud allegations
The allegations are centered on if Cook listed more than one of her properties as her primary residence.
thepostmillennial.com
Liar Loan
Well-known member
She was already terminated so now it's just a matter of how the court defines "for cause" which isn't defined in the statute. If it reaches the Supreme Court, I believe they will say constitutionally, the President can fire political appointees for any reason, just like they did with the CFPB Director. It might be better for the future of central banking if she doesn't try and fight this.
sgip
Well-known member
In some measure, what's good for the Goose should also be good for the Gander, or so this article infers:
www.propublica.org
If you dig past the headline, there is one instance of possible fraud - an Arizona property purchased as a primary residence that was never really a primary home. The other properties in question show a complete misunderstanding of the mortgage process and laws regarding fraud. Example? One borrower had an owner occupied loan in 2007, then moved into another home - financed owner occupied - roughly a decade later! Hardly a case worth mentioning, but a reflection of how SCREAMING HEADLINES and misleading facts represent most investigative reporting of today.
Trump Is Accusing Foes With Multiple Mortgages of Fraud. Records Show 3 of His Cabinet Members Have Them.
The White House has targeted opponents, including a Fed governor, for having more than one primary residence on their loan papers. ProPublica found that, in one case, a Trump cabinet secretary got two such mortgages in quick succession.
www.propublica.org
If you dig past the headline, there is one instance of possible fraud - an Arizona property purchased as a primary residence that was never really a primary home. The other properties in question show a complete misunderstanding of the mortgage process and laws regarding fraud. Example? One borrower had an owner occupied loan in 2007, then moved into another home - financed owner occupied - roughly a decade later! Hardly a case worth mentioning, but a reflection of how SCREAMING HEADLINES and misleading facts represent most investigative reporting of today.