TJS-CMC: (May 10, 2010 7:02pm)

Hey, Frank. No offense, but I think Brian's analogy regarding Van Halen without Sammy Hagar was right on the money. I liked David Lee Roth and he was a founding member, but Sammy rocks!

San Diego Appraiser: (May 10, 2010 3:37pm)

Thank you ssfranny for bringing that to our attention. Sounds good to me. D-appraiser, I hope they roll it back. AMC's, AVM's all have there place, just not in the main stream.

Gnotboxchecker: (May 10, 2010 3:32pm)

.

D-appraiser: (May 10, 2010 1:58pm)

NAIHP has just been advised by Sen. Bob Casey’s office, they WILL be introducing an amendment to nullify HVCC.

reoman: (May 10, 2010 1:52pm)

Hey Frank...loved the Rush t-shirt you rocked a few weeks back, but now I'm not sure what to think after you slammed Sammy today. Really? Although the band was fantastic in the early years, DLR became nothing more than a cartoon character. Sammy saved that band! And now with Chickenfoot, (not to mention his last album with the Wabos), he's still bring it! AND...Cabo Wabo Silver tequila!!! What's DLR and Van Halen up to these days...maye a Vegas lounge act? Now, back to business!

ssfranny: (May 10, 2010 1:25pm)

So Frank and Brian and all of you. What do you think of the Boxer Amendment to Bill 3217 the Dodd bill?? Sounds like they want to limit or eliminate the indirect compensation allowed to brokers and bankers. Suprised no one os talking about this.

5pence: (May 10, 2010 1:23pm)

Anybody read "13 Bankers" yet? Excellent read on what happened and where it's going. ***** 5 stars easy to read for even the financial lingo challenged. The GSE's could not have contributed as much to the sub-prime crisis as some believe - their charter says they can do no loans for less than 80% LTV.

sacappraiser: (May 10, 2010 10:58am)

Are you kidding me? Sammy brought them back to life!! Don't rag on Sammy he was under appreciated and thats why Michael Anthony hit the road with him. I think they all need to get back together. By the way check out Chickenfoot on youtube....

GODLIKE: (May 10, 2010 10:30am)

Roger.R.Martinez you seem to be forgetting the TIL which does spell out the "hundreds of thousands" of interest.

Roger.R.Martinez: (May 10, 2010 10:27am)

P.S. The fact that the new GFE fails to note the hundreds of thousands that each person with a mortgage has signed into is in my opinion the major fraud to the public... they have them focusing on the pennies when not one family over the last 9 years of my being in this industry could ever show me a budget ledger that included the "$400,000" in interest debt on top of their $400,000 principal, i.e. their $800,000 bill... not one family took the hundreds of thousands into proper account... that I believe is a major error and if you're like me, you'll put the Reg- Z as the first page of their loan documents and bring it to their attention throughout to the process to help them see the reality. Now... on to my first $3 Million Dollar sale..... ($180K as a dual agent.) Have a great week everyone... I plan to.

GODLIKE: (May 10, 2010 10:26am)

Where can I find the details on the new EPA law on remodeling a home older than 1978? We had a discussion on it a few days ago, but the archives doesn't show which day it was. I have a customer who is wanting to buy a house built in 1971 and do extensive remodeling we are wanting to be sure he can even get contractors to do the work.

Roger.R.Martinez: (May 10, 2010 10:18am)

Thanks again fellas for giving us our own daily Television show to wake up to. I'll have to take you two to lunch or dinner sometime. )Samba all you can eat Brazillian is good. Have a great week. See ya tomorrow morning.

5pence: (May 10, 2010 9:57am)

Hi mparic : The window to post came up, I typed the post and hit submit, the window turned white/blank and nothing posted. I'd wait to hear if others are having the same problem before I'd act to work on it. It might just be my computer. Thanks

mparic: (May 10, 2010 9:21am)

5pence; Could you be more specific to exactly what happened and send the support requests to [email protected]. Thanks;

5pence: (May 10, 2010 8:58am)

Guys, I'm seeing glitches in posting. I was going to make a post and it just disappeared. I don't know if it's firefox or the site. Just an FYI

5pence: (May 10, 2010 8:42am)

The ONLY way to prove fraud, imo, is to find it at origination and then the subsequent valuation from the amc appraiser that needs to hit value to keep getting work from the amc. There is no other way and those that think they can find appraisal fraud through the use of AVM's is outright lying. ie... the GSE's and their reps. As far as Zillow, I find them mildly amusing whereas I find 1st American/Corelogic totally unamusing. They think they have the market cornered on "THE" ultimate avm theory. More lies. Appraising is the application of physical science and mathematics, to try to subvert appraising by mathematics alone is mis-leading and imo is only done to profit those running the ponzi scheme. Amazing how far a lie can go when the players are getting greased by the scammers. Money can subvert truth, but no forever. You can fool all of the people some of the time and some of the people all the time, but you can't fool all the people all the time - Lincoln.

San Diego Appraiser: (May 10, 2010 8:41am)

The problems in the mortgage and real estate industry are not mechanical, but ethical. The appraisal process works, just like labor unions in their beginning. It’s like fighting a holy war with guns; you have to kill the ideology. Fraud it the problem, take away their real estate or appraisers license (to kill) and the problem is gone. Fraud is so high up on the ladder the majority of us can get to them. We need a savior; someone who is qualified and capable of taking on the unethical few addicted to money and would sell their mother to increase their stock market rating. We need a 21st century Wyatt Earp, having the law their side to bring order back into the real estate community. P.S. The 31% in the survey who do not care, you are excused and may leave now.

GODLIKE: (May 10, 2010 8:07am)

So what exactly is "loan application misrepresentation" and how do you have "valuation misrepresentation"? The house appraised for less than the sales price so he misrepresented the value? Or is it poor appraisals done thru AMCs and their refusal to look at other data?

GODLIKE: (May 10, 2010 8:05am)

Where can I find the details on the new EPA law on remodeling a home older than 1978? We had a discussion on it a few days ago, but the archives doesn't show which day it was.

frankgaray: (May 10, 2010 8:00am)

Godlike - Mortgage fraud was loan application misrepresentation and the second worst offender was valuation misrepresentation according to the report.

JUSTFRANK101: (May 10, 2010 7:55am)

You do realize First AMERICAN Core Logic out sources their work to the PHILIPPINES… Real nice a company that boosts AMERICAN is supporting the Philippines economy and filling their Los Angles California pockets with the profits. We should sue First American and force them to change their name to Philippines Take Your US Dollar Data Company This generation really sucks, users, abusers leaving nothing for the next generation Hope you are very proud Peace, Out Dudes

QCEdward: (May 10, 2010 7:24am)

Sammy beats the crap out of DLR. . . Bravo Brian, Bravo.

GODLIKE: (May 10, 2010 7:23am)

So what's considered mortgage fraud in the report? Is it things like a GFE out of compliance or is it something like the Clintons & Whitewater? I'm betting it's nitpickin' and leaving the real mortgage fraud all alone cause there's no published guidelines for that.

GODLIKE: (May 10, 2010 7:21am)

Mortgage Revolution? What's that? . . . . . . . . . . . I kid.

Funrunners: (May 10, 2010 6:55am)

Anyone heard anything about www.RegionsLawsuit.com or www.SouthlandAppraisersUnion.com

frankgaray: (May 10, 2010 6:38am)

Ezradams - "We thinks" you're right. You can make any info sound however you want out there right now. It all a matter of how you slice the time line and what data you include. There's way too much regulation out there right now. I think if there are any issues, most of them are crappy loan apps or crappy appraisals rather than malicious fraud.

Ezradams: (May 10, 2010 6:34am)

Mortgage Fraud up? By who's estimate....the MARI report? My questions to you are: What it the real purpose of the MARI report? How is the data collected? Does the data include AVMs and BPOs? Do the owners of the MARI report profit from services they sell? Would a MARI report that reflects higher appraisal fraud cause banks to purchase more of these services from Lexis Nexus? Me thinks the MARI report is self serving and not an accurate indicator of mortgage or appraisal fraud. What do you all think?

Mtgbrkr1: (May 10, 2010 6:21am)

Ok somebody please look at a key board and tell me how anyone can "Accidentally" hit a "B" instead of an"M". Right

orders: (May 10, 2010 6:06am)

i am for one concerned that first american has it's toes in everything these days. as appraisers, we use their 'realquest' product for a nominal monthly fee (which we nicknamed 'swiss cheese'. now how is it they can sue someone when they themselves are full of holes?