Posted on 05/03/2009 7:23:31 AM PDT by narses
Surprised to hear that there is any speculation going on anymore, but...
If you know of anything unethical or illegal being done by any Realtor, contact both the local Realtor association as well as your states department of Real Estate or Consumer Affairs Division.
It isn’t in the interest of the public or of other Realtors to have somebody acting illegally or unethically and ruining the reputation of an entire profession (sounds like you generally think Realtors are generally criminals from your tone).
actually, it was ACORN, Barney Frank and Fannie/Freddie who were pushing for that.
The National Association of Realtors promoted incentives for first time home buyers but they didn’t ask anybody to approval ‘no credit check’ loans. They were certainly in favor of more home buying but the fraudulent loans, credit default swaps and loan bundling wasn’t something the NAR or any Realtor organization was promoting or involved in. That was the banks. The NAR and the banks aren’t exactly close friends since the banks want to get into the actual real estate transaction business which would essentially gut the NAR.
How does Hussein Osama FIND all these gangsters?
... realtors in VA...
I don’t have to believe the spin. I’m at ground zero. I see all of it firsthand. I have to PAY the NAR. I know what they are promoting because they brag about it to me all the time.
They had one of the most singularly douchebaggy ‘economists’ Lawrence Yew during much of the last decade who would just spin and spin and spin even as the market got worse and worse. But he was just doing a Gibbsy but not actually lobbying.
The worst of these loans were pushed primarily by interest groups in the inner city and in Congress. And the investment houses who were never, ever in the lending biz were happy to lend money as long as Fannie & Freddie were gonna back them up. We didn’t get Option ARMs and NINJA loans until years into the boom. Those came once Wall Street got addicted to the commissions from selling CDOs.
By that time, it was already spinning out of control but you couldn’t tell unless you were on Wall Street or at Treasury (and apparently, they were all busy doing something else.)
Bush isn’t innocent. He practiced a Laissez Faire capitalism which is like saying ‘the ref is going to step out for a smoke so you guys keep score yourselves for a few minutes’. Bush put Chris Cox into the SEC. Chris is a great guy personally but he don’t know jack about Wall Street and they boned us not just on loans but on bond and commodity trading which went out of control in 2007/8.
dude, ‘corrupt Realtors’. Am I one of those? I’m a Realtor. Am I corrupt?
Ease off on the generalities. I KNOW who the NAR gave money to because they come to me to get the money in order to GIVE it to critters in Congress. Most of the money was not about loans - it was about keeping banks from taking over real estate transactions.
I don’t want to be mean. But I’m not the person to talk trash to about this. I’m losing hundreds of thousands of dollars because Bush/Obama screwed up our real estate and financing markets. And I know the FBI Financial Crimes agents personally because I’ve been turning in the criminals who’ve tried to exploit consumers, lenders and taxpayers.
....ALL of them?? Not my favorite place or even close but its because all the laws are based on old NY practices where consumers never had rights. In the West, we are all about disclosure, disclosure, disclosure. It’s far closer to how things should be but those older states are hard to change.
(I admit myself that around the Beltway consumers have just been abused when one agent represented both sides of the transaction and neither side really gets represented. We’ve lobbied nationally to get better disclosure for the N.E. states and change ‘dual agency’ because consumers have no idea what their rights are since they don’t speak lawyer)
And if the shoe fits!!!
All of them... since the “good” ones turn a blind eye to the poor behaviour of the “bad” ones. And I am referring to SWVA.
what the hell are you talking about?
If somebody is price fixing, I want them busted by the FTC. Show me anything and I’ll refer it to them myself.
Let’s say theoretically, that the sweeping statement you are making is factually true.
You send me evidence of any wrong doing and I will personally report it even though I’m not in VA. I’ve turned Realtors in to the FBI before along with corrupt lenders. I got no love for crooks in my industry cuz they make people like you refer to people like me as corrupt. If there is something behind your opinions other than just opinion, I’ll be happy to pick up the fight even from here.
Western States Realtor Reps at the NAR are pushing for the NE states to be forced to adopt the latest generation of disclosure and conflict of interest standards. Biggest hurdle - getting state legislatures above the Mason Dixon line to adopt language to update consumer protections. They usually claim ‘if people disclose things, lawyers will sue them more’ and therefore we don’t like consumer notifications.
Long & Foster is way too close to a monopoly in VA for my liking. If I were operating there, I’d be filing charges from my own company to break up their offices and prevent them from buying more small companies and making them part of The Borg.
OK. I will dig up that information for you. Is two years too long ago? I’m sure they are still doing it though.
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