practices. Even today I see hallmarks of stupidity on the part of appraisers
& lenders. Last year I fought with BofA over an appraisal that was
overstating the value of an REO property, but the bank stood by their
appraiser. If made no sense as to why they would want to overlend again on a
The banks' executive officers needs to be held accountable - if you can't
put them in jail, at least fire them, and prevent from holding a position in
a company who's assets are insured by US Dollars. The folks at the top (CEO,
COO, Chairman need to be held responsible).
d=5fcc9697f4&e=ebe71b748c> Federal Inquiry Concludes "Crisis Was Avoidable"
In May 2009, Congress established the Financial Crisis Inquiry Commission to
investigate the causes of the worst financial crisis since the Great
Depression. The 10-member commission released the results of its findings in
a scathing report published Thursday. Their conclusion? The housing collapse
and the economic crisis that followed could have been averted. The panel
spread blame across a wide gamut, from Wall Street to Main Street to
Pennsylvania Avenue, and warned that the impacts of this crisis are likely
to be felt for a generation.
d=777ab9d257&e=ebe71b748c> > Read More
SUNIL SETHI REAL ESTATE
CA DRE#: 01173766