The DIRT on Lend America.. Yikes! 10.28.09 | Personal Finance For Life / Jeff Underwood TV and Coaching

Bono Vox: (October 29, 2009 3:26pm)

Apparently Barney brings out the better nature in many of our contributors.

Sam: (October 29, 2009 1:15pm)

Perfect gift for Barney "Pillow Biter" Frank is a new one one, since his current pillow is soaked drool. Butt in reality, Barney should be giving us the pillow, since we're the ones taking it as long as he's in office...........

Lefty in NM: (October 29, 2009 8:42am)

Oh Rob P - No you didn't make fun of someone for having a speech impedement - Maybe he could take elocution and vocabulary lessons from George W Bush - Maybe he can learn to grind his jaw like a coke fiend... You are a dog

Bono Vox: (October 29, 2009 8:25am)

Clueless Dad - Yep, FHA especially will allow mattress money if it makes sense, ie the client has a very limited use of credit and little or no use of banks (max use would be using checkbook to pay bills and maintaining no balance.). It is a realistic answer to Asian and Hispanic immigrants who tend to keep cash on hand for cultural or economic reasons. The massive Mexican devaluation of the peso in the 80s drives it in that community. They don't trust banks. Banks aren't stable there like they are here in Ameri.....never mind that last part.

Rob P: (October 29, 2009 7:45am)

Barney Frank admitted that he is getting paid via "donations" on both ends, he get's paid to speak and he gets paid to shut up-the guy is working both ends against the other and it should be illegal!! Maybe he could do us all a favor and at least spend some of that dough on speech therapy...

AL Broker: (October 29, 2009 7:37am)

Did the tax credit get extended or not. Saw the CNBC news clip saying it did as well as the repeat buyer tax credit but then nothing after that. Thought this would be big news?????

Anonymous: (October 29, 2009 5:48am)

I really enjoy and appreciate your daily updates. As for the posts, could we keep them clean? Makes it tough to share when we write graphic descriptions. Thanks for all you do and share.

ALApprazer: (October 28, 2009 11:15pm)

That was constructive

Barney Frank loves gerbils: (October 28, 2009 9:27pm)

Barney Frank deserves to be sodomized by 12 800 pound gorillas at the zoo, i hope they pull his little ugly fat head off and then eat him bit by bit...disgusting overweight lying gerbil eating bastard

brian tbws: (October 28, 2009 7:14pm)

Listen you guys are pretty good at kicking someones ass when their down but Nate actually gives good info that most of you can learn from. We dont pull blogs if we disagree, even if they involve us, so lets keep this above board. Our goal is to improve our industry through constructive dialogue. Please remember that when you have something to say. Being a sh@#t head is easy, being understood takes consideration.

Mark: (October 28, 2009 6:29pm)

joecolorado - I have the comment section on page 3 of the URAR full of stuff. In there (an area the AMCs and Underwriters don't read) is a line that read some thing like this : The Appraiser's fee for this report was $300 (or what ever it was) and is not to be confused with the Appraisal Fee charged to the property owner/buyer by thire lender. No one rreads this stuff and I have never been asked to remove this comment on my fee, lol

joecolorado: (October 28, 2009 5:59pm)

They have a copy of your fee schedule,I dont see why they would offer you anything less.The other appraiser was getting $200 for the same job, had to drive all that way and back,and probably didnt know the area so the chances of the borrower getting a decent appraisal is pretty low.Who gets the blame?The thing that turns my crank is that the other appraiser TOOK the job.I dont know if its his low self esteem,or inexperience,but you gotta have SOME pride as an appraiser and not be a hooker.It would have been more profitable to him if he took out a paper route closer to home than to do THAT appraisal.How could he possibly know the neighborhood or the comps?He CANNOT consider himself to be competent.He may as well have burned his license at that point,if that loan goes south, its his door they will be knocking on for retribution.

joecolorado: (October 28, 2009 5:51pm)

Believe me, that may be a good thing, when they demand that you not include your fee invoice with the report,it means they are hiding something from the lender.Their reviewers are rubbish, they have the stupidest conditions.There is no way to know what question they will ask,and if they require edification, its YOU that gets downrated. I actually had one reviewer from PCV ask me was where in the report. I told him to read the report, he actually told me"I dont have time to read all of the report,just tell me where it is"I gave him the page and he asked what line? I then told him, If I wrote it you had better read it,the answer is there for all to see and hung up on him.I got an email telling me that my "membership" is to be reviewed daily as the quality of the report isnt to their standard. There is no complaint procedure,there is no questioning of reviewers permitted. nothing. either do it our way or no way.I chose the latter.

Mark: (October 28, 2009 5:30pm)

joecolorado - yup, then wanted me to do a 20 acre for $200. I sent back a request for a larger fee and called the home owner to setup the inspection. We set it up for Friday. PCV got some guy from 85 miles away, he called the owner. The owner said he had an appraiser and hung up. PCV called me to tell me that the order was not given to me, so i called the owner and said I had to cancel due to thier lender. The owner called the lender and went nuts telling them they would not pay unless they used a local appraiser. Now PCV is jumping on me for setting up the inspection without approval of my fee, $375. And the Lender is all over PCV for letting it happen. I don't think I will get any more work from them

Clulessdad: (October 28, 2009 5:26pm)

enquiring mind- For all the years I have been doing loans, cash or "mattress money" has never been allowed. The reason is simple. Unless the lender knows exactly where it came from, or sourced, they will assume that it is borrowed funds, which are required to be repaid as a debt. This can affect the DTI and also can affect that the borrower, or a close family member does not have some skin in the game. After all, you can get cash from a credit card nowadays. Here in CA, I have run up against this cultural issue as you have described many times. It is NOT racist. It is common sense. Whenever I have a question on a loan, I call the underwriter and ask "why" They are always willing to tell you that a loan has a problem. There is almost always a reason why they ask for something. And if you have a VERY GOOD relationship with them, they may even help you with a "fix."

joecolorado: (October 28, 2009 5:24pm)

Vail, Loveland, Copper Mountain, Aspen and Breckenridge will be the place to be if you ski guys....excellent skiing conditions and great ski areas. Aspen and Vail are expensive, but the others are worth every penny.

joecolorado: (October 28, 2009 5:21pm)

12" of light fluffy snow on top of about 5" of wet ground hugging snow.The foothill mountains and Eisenhower tunnel/the continental divide got pounded apparently,it is still falling and the experts are predicting another storm later tonight and tomorrow.Its been snowing all day.I have a snow blower, but the smaller areas are hand dug.Maybe when Barney Frank realizes his true calling he could come and fullfil his true vocation.....NAH, he would probably screw that up as well. I'll do it myself.

joecolorado: (October 28, 2009 5:15pm)

Mark....PCV has several investors and they offer the cheapest fees.I turn them all down,I sent in my fee schedule to them initially and I keep on telling them look at my fee schedule.They send out blanket appraisal requests hoping some numbskull will take on the job for a pittance... and someone generally does!!When they call and ask for a quote,I used to give them a figure,they generally need to get it authorized,I then told them that the figure quoted is for today only! I have now stopped doing that as they are using that info to coerce other apraisers to take lower fees.Talk about lounge lizards.They require two day turnarounds and their reviewers are AWFUL. too much work for too little pay....I kicked them to the sidelines and dont even acknowledge their emails any more.

KentInCS: (October 28, 2009 5:04pm)

Best video ever. Thanks guys.

Mortgage Man: (October 28, 2009 4:22pm)

What's up with High Balance 2010?? Discussion??

Mark, an appraiser dealing with SHITTTT: (October 28, 2009 4:16pm)

HA, has any one had any dealing with an AMC called PCV? They are a JOKE.

Valuequestor: (October 28, 2009 3:34pm)

Dear Joecolorado: I want to go skiing....please send snow. Thanks in advance.

Valuequestor: (October 28, 2009 3:32pm)

I've seen Nate....somewhere....mmmmm?.....!!Iknow Duece Bigalow!!...the guy with the cool apartment.

Enquiring Mind: (October 28, 2009 3:31pm)

EDROR: I haven't a clue what got your underwear twisted. I have a problem and I came to a source that I thought might could give me some good input for the underwriters. One person did and I'm going to try that. BTW I've since found out the Dad is on disability and if he shows too much money in the bank that could be cut back. That is reason he sent cash and not a wire transfer or check.

Nate: (October 28, 2009 2:43pm)

LAMM Look At My Mullet hahahahaha

Lynn: (October 28, 2009 1:00pm)

Thank you for calling the details of the life of Mike Ashley to our attentio. It just goes to show as you say, that it is not the industry but rather the failure of the industry to enforce its rules and regulations. Why isn't this guy in prison? And with a name like Lend America and a logo with the statue of liberty, they took advantage of the industry and a lot of innocent Americans. Shame on you Mr. Ashley. I also find it appalling that Barney Frank has raised more money this campaign than in one's past. Shame on Americans who contribute to his campaign and don't listen to what this guy has done. He and Ashley should be side by side cell mates.

joecolorado: (October 28, 2009 12:49pm)

you guys are hilarious, thanks for the funnies, now I have to go dig out my driveway from the snowfall last night...got about 14 inches and its still coming down....HUGE flakes now lying on top of about 4 inches of wet heavy snow...the ski industry will be in hog heaven.

Gmoney: (October 28, 2009 12:35pm)

Nate, Take a shower, Iron your shirt or stay on the net. A little shampoo on that 30 weight mop would help too!

e-homeappraiser: (October 28, 2009 11:40am)

Forget "3 Strikes". The first time you cross the line, your gone forever. Your either honest and ethical or your NOT! There's no reformation. 37 years working in and with all sectors of the Real Estate business.

RealEstateNate: (October 28, 2009 11:25am)

I'm glad I could stir up such a passionate response. NotNate'sGirl - Purrrr...... Nate Fan - Thanks! Thanks! Thanks! Ew - Very Straight, a bit Metro, but it is California. NOLA Nan - I have read the book. GOD - Sorry GOD, but I'm a bit Italian, thought you knew that ;) lose nate please - Sorry I'm lactose intolerant throwupinNC - Looks like you could use some mouth wash Nate - Thanks Nate. Great name :) New Social Girl - Glad I could help GW - Thanks for the feedback - BTW I have a fabulous 1983 Vet for you joecolorado - Great insight! Nate and the Village people - YMCA...You know you love it NoCheesySleezy - Your right. Hmm... there's no video of you realestatematt - Your just mad cause we share our first names Realestateadam- Want any "I can't believe its not butter" Realtor That Likes Nate - Glad I could help :) Have fun and I forward to all your updates.

joecolorado: (October 28, 2009 11:04am)

Its a sad day when we as Americans cannot trust an institution that promotes depositing money into their bank,stating trust as their main bullet point... and as for investing cash...one word...Madoff...other words...Milken... Bush(Neil) ...Keating...need I go on...its a wonder ANYONE puts money into a bank... its not ethnic its.....lack of TRUST..its a little bit like ethics....you either have it or you dont....and once you lose it, its gone, it doesn't come back

loannetter: (October 28, 2009 11:04am)

I just wrote my Senator and sent a link to this YouTube. It seems my Senator feels justified in supporting reform that protects consumers from fraud with little understanding how the new HVCC and other Cuomo actions have created more opportunities for crooks like Ashley to return to his gainful means. I am told by a friend who used to assist my senator that their staffers read and the canned response was evidence. What will it take for mortgage professionals to speak out? Our stressed industry organizations can't do it for us. Please contact your congressional representatives..if they get enough emails and call they might start listening!

Thankful: (October 28, 2009 10:58am)

I got my mortgage at lend america when no other bank would give me a mortgage. I am grateful to Lend America. Maybe it is the law that needs to change so that in a time of economic crisis people can keep their homes. With out Lend America I would have lost mine.

joecolorado: (October 28, 2009 10:52am)

jen-its then golden rule......no not THAT one....They have the gold they make the rules.

T Murph: (October 28, 2009 10:50am)

Mattress money is always an interesting proposition when doing an FHA loan. Think about it; people of minority descent really don't trust banks. Some of this is cultural and some of this is a result of living their lives without credit and thus having to do everything in cash. White people, in general, have credit and plenty of experience with descretionary income and investments. Their mattress money is in the bank or in investments earning a return. So, when it comes to FHA, and one must be careful, each situation is looked at on its own merit and it must make sense. Someone White is not always disqualified and someone African American or Latino American doesn't automatically qualify based on color. It is obviously more likely, than not, that the story if credible, in minority situations will be strongly considered in most cases. Just a letter from the donor simply stating, "I don't trust banks" is not enough.

Lend America Hater!: (October 28, 2009 10:17am)

Did anyone also know that his father went to jail for him ? Not to mention the fact that Lend shares their inbound calls from all their commercials with other banks. I know a friend that was employed by a company named Mortgage Source. Every time they had inbound leads, they would make the loan officers pick up stating that they were Lend America. I have another friend that has actually worked there before,and they sell 6.5 as a par rate to their clients charging as much as 4 points in the front. Since they are the bank, they don't have to disclose how much they are making in the back. I'm guessing that between front and back points, they are charging a 680 borrower that fits FHA guidelines up to 7-8 points on a loan!!! Then they pay their loan officers out with 1 point and Lend keeps the rest.HIGHWAY ROBBERY!!! I haven't even gone into the major details of the fraud that they do. Its guys like these that totally destroy the market for us.

Jen: (October 28, 2009 10:14am)

Yes Ashley is a douche and it is all about enforcement. I agree. Can someone please tell me why banks are able to disregard legitimate appraisals and cut home values 20% or more as they choose, blowing the deal? Why can they do this? It's driving me crazy!

FinanceLogic: (October 28, 2009 10:04am)

This video was funny too.... http://www.youtube.com/watch?v=SUrjdTyxNNY&feature=related

brian tbws: (October 28, 2009 9:55am)

Joe Colorado, THATS THE FUNNIEST VID IVE SEEN IN A LONG TIME. IT'LL BE LINKED TO THE DAILY!!

Frank Garay: (October 28, 2009 9:53am)

Yeah Jim.. stick with the point. Ashley DID do all his past deeds... lost his license due to fraud, paid FHLMC $30k as a fine. Was unable to do business till 2000 or 1998 (however you want to look at it) and he's back in the spotlight again. Clearly he's a repeat offender in the industry. Since you didn't get the POINT, I'll tell you. If he, OR ANYONE LIKE HIM, would have been ousted from the business back in the beginning via ENFORCEMENT of current laws, he would have gone away. Our point is that maybe we should ACTUALLY enforce the law once in a while instead of giving bad peeps a slap on the hand and letting them go back at it again and again. Make sense?

Rob in AZ: (October 28, 2009 9:53am)

Enquiring and joecolorado: mattress money is never acceptable as a source of Gifted funds. If Daddy is giving a Gift, you have to show Daddy's account with the $$ in it (check the bottom of the FHA Gift Letter & you'll see what I mean). This is a change that occurred maybe +/- 5 years ago. Have Daddy deposit the $$ in an account & get a printout of current balance, including bank name, acct#, and Daddy's name, being careful to exclude history. Then have him make a Certified Check payable directly to Escrow (or Attorney) in the amount of the Gift. That SHOULD satisfy the requirement. Good luck!

Realtor That Likes Nate: (October 28, 2009 9:47am)

To the person that said they wouldn't send Nate to their Realtors... You should let them be the judge. I'm new to this social stuff and we're being pushed from all angles to use it and his topic today was one I was interested in, so don't be so quick to assume everyone thinks like you.

brian tbws: (October 28, 2009 9:46am)

Hi Jim, we said this was alleged and reported by a sight "housing wire." If he's innocent or not how does it excuse his past legal issues. Really the push of our story is not ashley but if its true our system allowed it and current changes wont fix it. Ashley allowed us to make a point.

Jim Johnson: (October 28, 2009 9:42am)

Well I started out to do a blog post that vilified Mike Ashley and started doing some homework. It turns out that there are 2 sides to this story (as there usually is). It seems that HUD spent months digging for dirt and found 40 bad loans out of 13,000. Also you might want to check out this blog http://tickerforum.org/cgi-ticker/akcs-www?post=115428 and see the (other side." You guys didn't do your homework and are guilty of trial by press release.

joecolorado: (October 28, 2009 9:29am)

My broker client just sent me this link. This illustates the FHA current position. Have a look..http://www.youtube.com/watch?v=AEINcJZE1F8

Realestateadam: (October 28, 2009 9:26am)

LOL He kind of looks like fabios cousin or something.

Realist 1: (October 28, 2009 9:17am)

The Ashley story shows how screwed up we are not only in the mortgage industry, but as a nation. We have become a nation of liars, thieves and crooks with little or no recourse; and by the way, the vast majority of our politicians fall into that category. Sure we could vote them out, but most of our country is so dumbed down and complacent, they won't do it. It's interesting to note how when the $%^& hits the fan, how people like Barney Frank who is just one of many politicians who belongs in prison, instead is given money by special interests to keep doing what he is doing. And by the way, most of our regulatory agencies are crooks and liars too. A lot of people just like Ashley end up being hired by the regulators to help keep the legalized crime ring alive and well, all under the guise of being the policeman for the industry. Yes that is how rotten and corrupt it has become.

joecolorado: (October 28, 2009 9:15am)

All they have to do is to write a letter stating the money is a non returnable gift, then it doesn't matter what nationality you are. What a crock...discrimination at its finest..It shouldn't matter what ethnicity you are....money is money...how gauche.

realestatematt: (October 28, 2009 9:13am)

I have to agree with everyone else, dump realestatenate! He looks more like usedcarsalesmannate...

FinanceLogic: (October 28, 2009 9:10am)

Clueless: maybe some media outlet jumped the gun and misreported. That wouldn't be the first time the media reported something wrong. But from my understanding the FTHB credit extension hasn't been voted on YET, but they HOPE to get to the issue today, which again, may or may not happen.

edror: (October 28, 2009 9:05am)

Enquiring Mind, you are the type of person that gives us loan originators such a bad name. You express yourself with vulgarity which shows that you have no idea what you are doing.Source and seasoned funds are there for a reason. i hope that this coming year will eliminate your style of..............

Enquiring Mind: (October 28, 2009 8:59am)

Expansion of underwriter's comments on the mattress money. She says it's cultural. Mexicans pool their money to help their family buy but White people don't. She says that's the reasoning behind FHA stance. (or is it the secondary market) I don't know how to counter that.

Artisan: (October 28, 2009 8:56am)

Really, Loan officers in the industry often got their start at " Chop Shop's ". You are new to the industry and management tells you want they want you to know, controls pricing and makes you charge max fees on all loans, i.e Ameriquest. As a person new to the industry you don't know what's what so you rely on a management team to point you in a direction. Often the cultures of these companies spur sloppy work and often fraud. You learn the basics of originating and move on. This is a common story among many orignators who got their start in these types of environments. If you don't get what I am trying to say, my apologies. You seem angry? All types of Capitals and Exclamations points!!!! PS Asinine is spelled with 1 "S". Have A great Day.

NoCheesySleezy: (October 28, 2009 8:52am)

RealEstateNate?????????????? Dude, sometimes video is not the best media for people...

Enquiring Mind: (October 28, 2009 8:52am)

Mattress Money? Can anyone tell me FHA's stance on that? I'm new to the FHA world, only here cause of HVCC. I have a couple that Daddy is giving all the funds for closing - in cash! But the underwriter is telling me he can't do that cause he's white whereas if he was Mexican they'd allow it. WTF?

Emperor: (October 28, 2009 8:52am)

Bill tracking link: http://www.govtrack.us/congress/bill.xpd?bill=h111-3126 Remove last part of link to track another bill

Nate and the Village people: (October 28, 2009 8:51am)

Nate looks like he just stepped out of the Blue Oyster where he was partying with The Village people all night, cut the hair Don Johnson and get back to busting Columbian hookers.

joecolorado: (October 28, 2009 8:47am)

Strange how some men are intimidated by Nate but women are very strangely drawn to him........ I wonder why?

Clulessdad: (October 28, 2009 8:43am)

I can't understand what happened to the CNBC article on the tax credit last night. I swear the article had it all but approved and now there is nothing. A broker, who is pretty reliable reported it last night. I confirmed it and now any article on it is gone. What the heck is happening?

Really?: (October 28, 2009 8:41am)

ARTISAN MORTGAGE-Are you flipping kidding me! I never "cut my teeth" on fraud-I was intelligent enough to know what was fraud and what wasn't! A statement like that is quite assinine.

FinanceLogic: (October 28, 2009 8:35am)

Clueless: The first time home buyer tax credit has not yet been extended. http://www.startribune.com/business/66860967.html

GW: (October 28, 2009 8:32am)

Sure glad Nate tells us he is a realtor. He is the true embodyment of a sleazy looking used car salesman. Is this what is "GQ" in CA? I am happy to have a fast forward on your system when he comes on. I don't want to embarass any realtors by forwarding episodes that he is on.Really guys, is he just a joke or is he a true deal?

Starving Appraiser: (October 28, 2009 8:18am)

Thanks Frank, will keep an eye on 3126. I am a small home office with 2 workstations using Comcast/modem & a router, and I AM the IT DEPT (yeah). I think the prob is the streaming video/RTMP protocol issue support mentioned... tried to view a strmn vid on another site & no luck. Have tried to find where to change this in my IE options & tried to download free RTMP Strmn Player but no luck with either of those. Am sending this to support as soon as I get a chance. But thanks to you & support for the replies & suggestions. Still working on it here. Missing the videos TOO!!!

THINKING BIG: (October 28, 2009 8:10am)

That's Katie? Is Frank going to be a Grandpa?

Gsays: (October 28, 2009 8:09am)

The govt didn't do anything to stop Mike Ashley but a very lite slap on his hand. Throw Mike to a crowd of angry borrower's or Loan originator's,we would have kept him out of our industry forever in every state, too bad we can't stone him! Time for Karma to finish him off. but unfortunately the Govt will hire him, he is the leading expert in loan fruad.

Artisan Mortgage: (October 28, 2009 8:03am)

Lend America is the same old chop shop many of us cut our teeth at. Young, unprofessional loan officers who are taught to lie, cheat and steal in the name of Money. Price Gauging and fraud all under the name of " Government Insured " FHA Loans. I am local to them and hear all the nightmare stories from former employees and vendors. I agree, new laws do nothing if we can't enforce our current ones.

Frank Garay: (October 28, 2009 7:54am)

Starving... Have you tried to watch on another computer? I can watch the show on any computer I have right now either from home or the office. And they all operate on different systems. Are you home based or at an office that is stopping streaming? We're working on trying to make sure it streams on as many systems as possible. Do you have tech on your end that you can have take a look at things? I'm sure he could even call our tech so the could work together on it. We get most of our info on Bills at www.thomas.gov. You can track it there.

New Social Girl: (October 28, 2009 7:51am)

Actually I'm trying to get the whole social marketing thing going right now, and Nate answered one of my biggest questions about it today. Yeah, he's a different kind of guy, but, I like him, and he did help me today. Thanks Nate! BTW... I think I'm a LAMB... Don't let these peeps get to you on this blog, they can be pretty rough... I appreciate your efforts, I'm sure it's a whole lot more than any of these nay-sayers have done for anybody.

killem: (October 28, 2009 7:46am)

Slush funds for delinquent payments are common among crooks. Remember, a late pay in the first 6 months triggers an audit. Look at Trust One and Doyle Glass. Both are famous for it.

Starving Appraiser: (October 28, 2009 7:37am)

Hey F & B, FIRST ? > any chance of getting a link added to the page of the daily video text? Still can't view here. Your support is trying to help as much as they can. And the upgrade seems to have helped w/the captcha issues. SECOND ? > any way to track the progress of HR 3126???

Nate: (October 28, 2009 7:32am)

Nate is great!

dazednconfusused: (October 28, 2009 7:28am)

Guys like this do not surprise me, there is a CLOWN -Roy Clennan- that has been on the radio for Years touting "it's not the rate it's the program" He was pushing ARMS and Option Arms for years. When the Subprime AE's came in the door it was a minimum 4pnts on every deal- who know on FHA. Now this clownface jackass is touting he never sold subprime loans. I think our biggest problem is that we are not united. We all know scum like Roy as well as this bozo on the daily. We need to report and expose the bad apples otherwise BackdoorBarney will have a field day with these type of reports.

Hammer: (October 28, 2009 7:28am)

Ummmm, gee - Lend America wasn't a witch hunt? Um, I knew that............I hope they spank 'em hard. Instead, they're going to take away my industry pay structure - crazy...

Katie Fan: (October 28, 2009 7:22am)

How can we wish Katie a happy birthday?

throwupinNC: (October 28, 2009 7:22am)

nate's a greaseball...don't want to be either a lion or lamb anywhere around him

lose nate please: (October 28, 2009 7:22am)

Loose Nate please... the cheese can't get any bigger on that ball...

CascadeLender: (October 28, 2009 7:19am)

that car shot at the end is f#@$ing great. I laughed my ass off! Great Job again Guys

GOD: (October 28, 2009 7:19am)

Nate this is GOD speaking and you need to actually look in a mirror before you step out of the bathroom and not use the mirror in your head where you think you look really good. And if you can't decide what to do with your hands don't keep waving them around in the air put them down by your side or in your pants or somewhere where they won't be so distracting. And at the end of your segment I scratched my head and said "What'd he say?" and "Why was he even on here?"

GODLIKE: (October 28, 2009 7:13am)

Dang he was hungry! You need to cut Brian's pay. Obviously if he can afford a neat car like that then you are paying him too much. It looks as if he's living large like that Michael guy story you were telling us about this morning. Or was that a proverb and not just a story.

NOLA Nan: (October 28, 2009 6:56am)

Has Nate ever read "Dress for Success"?

Clulessdad: (October 28, 2009 6:48am)

This was reported by another blogger last night and I confirmed it on a CNBC post, but now it is gone. HUH? The Home Buyer tax credit has apparently been extended, and eligibility expanded to include some move-up buyers. Details: Income eligibility for first-time home buyers stays at $75,000 for individuals, and $150,000 for couples. For move-up buyers, income eligibility is $125,000 for individuals and $250,000 for couples. There is a minimum 5 year residency requirement - in their current home - for move-up home buyers. The tax credit is the lesser of $7,290 or 10% of the purchase price. The credit runs from Dec. 1, 2009 to April 30, 2010, with an additional 60 day period to close escrow. (So end of April to sign contract, end of June to close escrow) Expect bill to be signed by Friday, packaged with the unemployment benefit extension

Ew: (October 28, 2009 6:40am)

Is Nate straight?

Clulessdad: (October 28, 2009 6:34am)

Was it reported last night that the tax credit was extended?

Clulessdad: (October 28, 2009 6:33am)

You can never teach or regulate honesty or ethics. You either have it or you don't.

Nate Fan: (October 28, 2009 6:32am)

Nate! Nate! Nate!

CORRUPT LEND AMERICA: (October 28, 2009 5:37am)

LEND AMERICA CALLED OUR APPRAISAL COMPANY LOOKING FOR APPRAISERS AWHILE BACK. WE'VE BEEN IN THE BUSINESS 15 YEARS AND YOU CAN TELL IF YOU WANT TO DO WORK WITH A COMPANY OR NOT. WE CHOOSE NOT TOO. TRUST YOUR INSTINCTS. WE CAN BLAME LEND AMERICA BUT OUR GOVERNMENT IS JUST AS RESPONSIBLE FOR FUNDING THESE LOANS. WHO WAS REVIEWING THESE LOAN PACKAGES AND VERIFYING THE INFORMATION. IF I WAS INVESTING IN FHA LOANS I KNOW I WOULD HIRE THE BEST OF THE BEST TO MAKE SURE THE LOANS WERE INVESTING IN ARE GOOD INVESTMENTS. I GUESS WHEN ITS THE TAXPAYERS DOLLARS THE GOV'T IS WILLING TO TAKE THAT RISK. WHAT A JOKE OUR GOV'T HAS BECOME AND WHAT LITTLE RESPECT THEY HAVE FOR OUR TAXPAYER DOLLARS. UNTIL EVERYONE IN THE SYSTEM HAS "SKIN IN THE GAME" SO TO SPEAK WE WILL CONTINUE TO HAVE CORRUPTION.

dc: (October 28, 2009 5:35am)

barney Frank cant eventalk how in the world is he in change of anything.

Christine Bell, CRMS: (October 28, 2009 5:34am)

One less crook in the business. I am glad our government is weeding all the losers out of our business. Only the true professionals will remain.

Just the Facts: No Spin: (October 28, 2009 5:26am)

Hey Guys, please get off the sensationalizing. Congress & media will take care of that. Let's stick with what really caused the housing crisis, that will be the only way to have awareness by consumers and media that leads to effective solutions. Repeal of Glass-Steagall in 1999. This opened the door for fed govt to force banks to make high risk loans they would not with Glass-Steagall. Too many people were given loans they could not repay. Fed govt regulators threatened banks with Equal Credit Opportunity Act violations thru the Justice Dept. and Community Reinvestment Act thru protest at the banks by community activist. We now have a life long community activist for president. Our Central Planning govt believe citizens are incapable of thinking for themselves. Thus, they will make the choices for the citizens by abusing their regulatory power. We are seeing the results in HVCC, added on top of more disclosures reducing consumers ability to obtain a loans efficiently.

Hard Case: (October 28, 2009 5:23am)

As long we elect thieves such as Barney Frank to government seats this will continue. This country has enough laws on the books for any kind of felonious activity, the government wants us peons to think we just need one more law. In fact we need to put violent felons to death and let the white collar felons stay in prison for life, including most of congress.

USF Appraisals, LLC: (October 28, 2009 5:03am)

I guess if you're going to lie, cheat, and steal, you might as well do it to the extreme so you can retire in Bora Bora with Katie and her +2's while the government looks to hunt you down. It's amazing hearing the stories of the broker, appraiser, and realtor scum who will give in for a couple hundred beaver pellets. If you're going to break the rules, break the F-out of them. That's the problem with our industry. People rarely give a 100% to their job (whether right or wrong). Someone like Ashley is more honorable in the fact that he blantly said F-it, let's make it happen to the 'nth degree, and think outside the box to cover our tracks. On my side of the fence, a couple hundred today is not worth compromising my integrity or turning a light switch on and off when someone wants you to turn a blind eye to an issue (you still gotta sleep at night).

keeka: (October 28, 2009 4:33am)

Every industry has their bad apples, the new laws coming down the pipe such as HR1728 are not going to make bad people turn bad. What's really sad is that those past companies continued to hire a person convicted, or even under investigation for mortgage fraud! Enforcement is definitely the key, continuing education wouldn't hurt either but someone like this guy Michael Ashley obviously has no conscience and continuing education would mean nothing to him. A new GFE/TIl isn't going to prevent guys/gals like this either. Arrest those who do something illegal, prevent them from EVER BEING IN THE INDUSTRY AGAIN!

LI Appraiser: (October 28, 2009 3:35am)

To start off with, Consumer Home Mortage was owned also by his father although a silent partner. I know this as his father personally handed me a check for some somewhat dated invoices in 2000. One other Major item is that due to the 9/11 trajedy, Ashley got off with with new possible charges from another on going investigation as I believe it was Tower #2 had contained (who knows how many others) all South East New York District Federal investigation files that were than lost.

NotNate'sGirl: (October 28, 2009 3:26am)

Hey Nate...mmmmmROW!