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O. Baron Kahle

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"This explains why the independent banks that didn't rely on FICO scores in the loan qualification process were marginalized by competitors then harangued by the collaborating regulators until the independents were run out of business. The heavy hand of over-regulation has diminished the spirit of competitive and reasonable capitalism which is essential to the well being of American commerce."    View Comment
"Where are the criminal prosecutions?"    View Comment
"Looks like you all are getting it. The "regulators" and the banks' spin doctors managed to point the blame at LOs and appraisers while trying to avoid the obvious. Question: Who in the the process of a a real estate transaction is the key figure? Everybody from listing broker to loan rep to processor, title officer, appraiser, etc., on through the closing agent. A lot of people involved but only one out of that group approves the loan. Answer: the UNDERWRITER. All those bad loans contributing..."    View Comment
"Bad appraisals? You get what you pay for. The AMCs scrape the bottom of the barrel for submissive appraisers who in turn must cut corners in order to mitigate their lowball fees. They are not independent appraisers. The loophole in the rule against suggesting target values is by rejecting the appraisers choice of comps until he/she arrives at the AMC's desired combination. This is a form of manipulation that the regulators overlooked. HVCC does not require the use of AMCs. Read the rules."    View Comment
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