"Predatory Lenders" and Abortionists

3/31/16 | sff

[SoFloFreeper]

Ruminating about all the vitriol blasted toward Trump over the past few hours, something struck me.

I would like FREEPer's thoughtful opinions on the subject.

Would it be fair for conservatives to treat ABORTIONISTS, those "doctors" who murder unborn children, with the same rhetoric as the liberals have treated so-called (and apparent) "predator lenders"--loan officers and bank underwriters who put people in homes they KNOW they cannot afford.

In the end, the buyer loses their house, the mother her child. While the murderer/banker gets money.

I know this may not be a perfect analogy.

Just wondering if DT might have better said "Chris, she has lost a baby. Isn't that enough?"

[major-pelham]

You don’t want to go here with me. I’m a lender, its what do. I lend my own capital. I never made a loan in my life I didn’t want to simply be paid back on time for. Millions of them. Foreclosing on loans, repossessing or taking possession of collateral is a total economic loser. Never been a defendant past a motion to dismiss in a controversy involving a loan initiated by a borrower, not once.

A mortgage broker is in no way a lender. He doesn’t lend anything, he takes applications, someone else funds the loans. You might like the term predatory loan application seller.

Years ago there was a common method of predatory lending, which I consider deliberately stripping a borrower of an asset more valuable than the loan you made. You can’t do that anymore, statutes prohibit in all states. Example. You convince elderly borrowers to take a mortgage on a house to re-do the roof. You hold the first (likely only) lien. You set the contract up so its likely to go into technical default wherein you’d get the house on foreclosure, presumably worth far more than the loan to fix the roof. Consumer friendly secured transactions laws made that obsolete, probably 35 years ago.

[HLPhat]

>>A mortgage broker is in no way a lender.

Funny how many folks don’t seem to want to admit that.

Was Mortgage “broker”/originator industry leader Ameriguest/Argent mortgage PREDATORY?

They sure were.

Meanwhile the resulting derivative a$$paper they and their PREDATORY ilk flushed into the securitized pipeline is still swirling around the vortex of the global economic sewage pond.

Do you sell the paper you originate or do you hold it for the entire term of the loan?

>>Foreclosing on loans, repossessing or taking possession of collateral is a total economic loser.

Uhuh.

http://www.google.com/#q=Argent+Deutches+bank

Prov 11:1-4

11 The Lord abhors dishonest scales,
but accurate weights are his delight.

2 When pride comes, then comes disgrace,
but with humility comes wisdom.

3 The integrity of the upright guides them,
but the unfaithful are destroyed by their duplicity.

4 Wealth is worthless in the day of wrath,
but righteousness delivers from death.
NIV

YMMV

[Georgia Girl 2]

“I know this may not be a perfect analogy.”

Well as a former longtime mortgage loan underwriter, underwriting manager and mortgage broker I would like to say you are an idiot but I’ll just say you haven’t got a clue.

First of all you are right its not the greatest analogy so why did you use it? Its not an analogy at all. Mortgage banking has nothing to do with abortion.

Just for your edification since you so desperately need it loan officers, mortgage brokers and loan underwriters don’t loan money. They process and approve loans which are then funded by the lender. Most all lenders underwrite by a complex and strict written rule book called the Fannie Mae and Freddie Mac underwriting guidelines. They don’t knowingly make loans to people who cannot afford the payments.

At a point during the Bush admin the Democrats in Congress forced Fannie Mae and Freddie Mac to start issuing subprime mortgage programs with relaxed underwriting guidelines for credit, qualifying ratios and income and asset verification. That is what caused the problems not loan officers and underwriters.

Now what that has to do with abortions is beyond rational thought. Sometimes its good to think before posting.

[SoFloFreeper]

I was trying to think out loud and try to find a reasonable parallel that might bring people along who are against protecting unborn life.

That is why I posted my thoughts in “chat”.

If I am to just keep my mouth shut when trying to engage and get the thoughts of others, if that is what you’re suggesting, then I’ll politely ignore that advice. We’re here to figure things out together, not suggest that we are the fount of all knowledge.

[Georgia Girl 2]

“then I’ll just politely ignore that advice”

And what? Just keep posting ridiculous hypotheses that have no credibility? You don’t have to be the fount of all knowledge just try to learn that apples aren’t oranges. You need a little advice.

[HLPhat]

>>Well as a former longtime mortgage loan underwriter, underwriting manager and mortgage broker I would like to say you are an idiot but I’ll just say you haven’t got a clue.

How many clues are required to recognize that the subversion and demoralization of American culture has resulted in symptoms including both the proliferation of abortion and the gaming of systemic corruption that was observable in the Mortgage Industry circa 2007?

>>Most all lenders underwrite by a complex and strict written rule book called the Fannie Mae and Freddie Mac underwriting guidelines.

"Most" - except for originators like  industry leaders such as Ameriquest/Argent Mortgage whose originated a$$paper NEVER qualified for Freddie/Fannie underwriting? 

>>They don’t knowingly make loans to people who cannot afford the payments.

And yet, among other things, Argent Mortgage knowingly and deliberately manufactured false FICO scores for thousands of loan applications that were in their Empower production database.

It is incumbent upon the honorable craftsman to be aware
of whether or not his services are being used
as a means to accomplish evil ends -
and to act (or NOT) accordingly.

 

[Georgia Girl 2]

I don’t have the time or energy to educate you on the mortgage loan crisis. That aside it has zero, nada, zilch to do with abortion in any way shape or form. Its a stupid analogy to make. Well no its not an analogy at all. Its just stupid.

[HLPhat]

>>I don’t have the time or energy to educate you on the mortgage loan crisis.

LOL. Please tell the class who Roland Arnall, the Godfather of Subprime was.

Who were you a Broker for?

[SoFloFreeper]

In essence, yes, I’ll keep asking questions and trying to find ways to communicate truth.

My initial post was pretty much asking for a way to communicate truth and something that struck me to be an imperfect parallel.

The above ping’ed FREEPers are among those who have contributed to my thinking on this issue. You’ll notice I really haven’t argued or engaged with them, but instead read and absorbed their thoughts. After all, isn’t that what “chat” is about? I was and am sincerely trying to get the import of others.

I think your (apparent) vitriol fired at me merely ASKING questions and trying to find answers is unfounded in a misinterpretation of my intent. My entire goal was to find a way to answer those who think abortion is okay.

Paul said “To the Jews I became as a Jew, so that I might win Jews; to those who are under the Law, as under the Law though not being myself under the Law, so that I might win those who are under the Law...” My idea was to find SOMETHING that is taken as a verity by the left and help them see a parallel within the abortion context.

I’ll continue to engage fellow conservatives in that conversation.

Thanks to all those above who contributed to the thread.

sff

[HLPhat]

>>I’ll keep asking questions and trying to find ways to communicate truth.

“Truth is great and will prevail if left to herself, that she is the proper and sufficient antagonist to error, and has nothing to fear from the conflict, unless by human interposition disarmed of her natural weapons, free argument and debate; errors ceasing to be dangerous when it is permitted freely to contradict them.”

---Thomas Jefferson

I'll pass the lie detector test. Will the amoral predators?

[HLPhat]

“IMO the derivatives market is getting ready to unravel”
—Georgia Girl 2
http://www.freerepublic.com/focus/news/3134448/posts?page=54#54

Would abortions proliferate as they have in a culture that was not morally compromised?

The nature of the amoral relations between Derivatives and Predatory lending is just as self evident:
http://www.google.com/#q=Subprime+derivatives

Moral people don’t use predatory dishonest scales... or perform and profit from abortions.

Simple. See?

[SoFloFreeper]

thanks.

[HereInTheHeartland]

I wasn’t aware that “bankers put people in homes”. I thought home buyers had brains and acted willingly.
I always thought that home buyers acted on their own and signed the papers after finding a home they liked.

They must have been drugged and made unconscious to have been “put in homes”.

Comparing that with murdering innocent babies is quite a stretch.

[Georgia Girl 2]

If you want to talk about predatory lending start a thread on it and I will school you all day long. This is about abortion which cannot be correlated to mortgage lending in any way, shape or form.

[SoFloFreeper]

My purpose wasn’t to create a debate about the nature of predatory lending. Frankly, in my opinion, no one puts a GUN to someone’s head and makes them sign an agreement to pay a mortgage.

But there are sneaky people in the world who take advantage of others and make them think they’re getting something for nothing.

My purpose was to take something that the LEFT asserts is true: that predatory lenders exist, and hope to make them see that abortionists are akin to them.

I wasn’t trying to slam the honest lenders (like you, major-pelham) or the doctors who perform abortions in order to save the life of the mother.

I dunno. This thread kinda got out of control, and it wasn’t my intent to start a fight. :)

[HLPhat]

 

How's Argent's primary warehouse "LENDER" doing these days?

http://www.publicintegrity.org/2011/04/18/4173/data-shows-deutsche-bank-was-key-patron-questionable-mortgage-lenders

What sort of moral character is demonstrated by a culture that proliferates "liar"' Loans?

Amos 8:5-6
...boosting the price
and cheating with dishonest scales,
6 buying the poor with silver
and the needy for a pair of sandals...

NIV

The common thread between the predatory, DISHONEST, mortgage bidness and abortion is the demoralized culture in which both proliferate. Anybody with common sense can see it.

Not that there's much common sense self-evident in a culture that elected Comrade Chairman FlexObumble (and his ACORN farming Secretary of Commerce, Penny Pritzker), Twice.  

But Obama & Co. were only continuing bidness as usual...

Ameriquest Mortgage Co., until recently one of the nation's largest subprime lenders, was at the center of those battles. Working with a husband-and-wife team of Washington lobbyists, it handed out more than $20 million in political donations and played a big role in persuading legislators in New Jersey and Georgia to relax tough new laws.

http://www.wsj.com/articles/SB119906606162358773

 

It's impossible to separate the CULTURE of Amorality from the symptoms it manifests:

Rom 1:26-29

26 Because of this, God gave them over to shameful lusts. Even their women exchanged natural relations for unnatural ones. 27 In the same way the men also abandoned natural relations with women and were inflamed with lust for one another. Men committed indecent acts with other men, and received in themselves the due penalty for their perversion.

28 Furthermore, since they did not think it worthwhile to retain the knowledge of God, he gave them over to a depraved mind, to do what ought not to be done. 29 They have become filled with every kind of wickedness, evil, greed and depravity.
NIV

Sound familiar? 

The Culture of Amorility is receiving in itself the due penalty for its derivative perversion, with interest (fixed to LIBOR).

{flush} Are those Ameriquest Superbowl commercials still funny?

[Georgia Girl 2]

Hey theres a cooking thread up on FR that sounds like something you could tie to predatory lending. Run over there and post something. It would be about as relevant as posting it to an abortion thread. How boiling tomatoes the wrong way is similar to predatory lending. LOL!

[HLPhat]

Was the dumping of securitized a$$paper into the global economic pond moral? - Yes or No.

[Georgia Girl 2]

What’s that got to do with abortion?

[HLPhat]

Amorality.