Banker: We had "sanity checks" on Trump's loans

[Damocles]

Sanity check? Banks don't do that. They employ lawyers to check facts.

What they do is they have qualified real estate assessors actually assess the property value based on government filings (square footage, rooms, so forth) not based on the owner's best guess of what it is worth, etc. They don't issue loans based on what you guess your house is worth, if they do they are not doing their due diligence and would never pass stress tests. They don't employ lawyers for this part of the loan process they employ real estate assessors. It's idiotic to assume that banks would give you a loan because you said your house was worth eleventy-billion when it is only worth eleventy-million.

 

[Kamala Trump]

Unfortunately for you, Congress makes the laws, and the Judges enforce and derp comments have no bearing.

it is illegal to make written fraudulent representations.

And the Judge not only has standing, but will order the liquidation of Trumps assets, even as you derps claim they cannot do it.

And that is because your stupidity has no influence on the law.

this case will be thrown out at the supreme court level after its appealed.

you people are insane.

 

[Damocles]

but your problem is, no one robbed anyone......he applied for a loan.....the bank processed the application, a process which involved their own investigations (as the OP states, the guy testified they viewed his net worth as nearly half of what he claimed}......they WROTE HIM A CHECK in exchage for his signature on a promissory note......he repaid the loan........that isn't bank robbery......

It is also not fraud. That is how loans are approved by banks, they don't go by what you say things are worth, they find out what they are worth first. Seriously, who has gotten a loan based on what you guessed your house is worth? They always get an assessment of value before they issue you the loan.

 

[Kamala Trump]

...eleventy-billion ...

 

[QP!]

What they do is they have qualified real estate assessors actually assess the property value based on government filings (square footage, rooms, so forth) not based on the owner's best guess of what it is worth, etc. They don't issue loans based on what you guess your house is worth, if they do they are not doing their due diligence and would never pass stress tests. They don't employ lawyers for this part of the loan process they employ real estate assessors. It's idiotic to assume that banks would give you a loan because you said your house was worth eleventy-billion when it is only worth eleventy-million.

that is only partially true.

While they do some checking they ALSO RELY ON WRITTEN DECLARATIONS by applicants and their accounting firms that what they have been told is truthful and accurate.

For instance, part of almost any loan is also Income, and profit and loss calculations. Banks rely on you and your accounting firm to present them honestly in a declaration. If you lie to your accounting firm (as Trump did) and they pass that lie on to the bank, it will rarely get caught.

But NONE OF THAT alleviates the lenders OBLIGATION to be honest in the declarations he submits.

So even if you say incorrectly that the Bank MUST check everything, that does not mean the applicant can lie on forms and not be charged.

 

[QP!]

It is also not fraud. That is how loans are approved by banks, they don't go by what you say things are worth, they find out what they are worth first. Seriously, who has gotten a loan based on what you guessed your house is worth? They always get an assessment of value before they issue you the loan.

that again is NOT ALWAYS true.

Many banks, in just one example, get their loans thru loan brokers who attest thru written declaration they have done all the necessary checks and the applicant has passed them all.

If that loan broker is writing fraudulent loans (think 2008 mortgage crisis and NINJA loans) many banks will not catch it until enough of them explode and they then investigate.

 

[Kamala Trump]

that is only partially true.

While they do some checking they ALSO RELY ON WRITTEN DECLARATIONS by applicants and their accounting firms that what they have been told is truthful and accurate.

For instance, part of almost any loan is also Income, and profit and loss calculations. Banks rely on you and your accounting firm to present them honestly in a declaration. If you lie to your accounting firm (as Trump did) and they pass that lie on to the bank, it will rarely get caught.

But NONE OF THAT alleviates the lenders OBLIGATION to be honest in the declarations he submits.

So even if you say incorrectly that the Bank MUST check everything, that does not mean the applicant can lie on forms and not be charged.

yes it does, actually.

 

[Damocles]

that is only partially true.

While they do some checking they ALSO RELY ON WRITTEN DECLARATIONS by applicants and their accounting firms that what they have been told is truthful and accurate.

For instance, part of almost any loan is also Income, and profit and loss calculations. Banks rely on you and your accounting firm to present them honestly in a declaration. If you lie to your accounting firm (as Trump did) and they pass that lie on to the bank, it will rarely get caught.

The "lies" about square footage, etc. will always get caught, because you can't make the property larger on the inside than it is on the outside. The reality is in real estate in particular there are myriad filed permits that tell folks what is done to the property and give the appraisers the ability to make very good evaluations of the actual value of a property. Banks do not give you loans on guesses, they don't make guesses, nor do they rely on what you report to them about those things.

Banks don't just throw money around based on what you tell them, they check and double check. Crap I had to give years of bank statements to prove that what I said I made was real, literally I sent thousands of pages of documents to the bank so I could get a loan for a house... My accountants were helpful, but the bank was not going to just say "okay" like Goofy in a Disney cartoon because they just said something... this is idiocy. Banks don't get stupider and more trusting the more money you are getting, it's quite the opposite.

 

[QP!]

Damocles is not a person anyone should listen to on any topic as his track record is almost always to be wrong.

 

[Kamala Trump]

that again is NOT ALWAYS true.

Many banks, in just one example, get their loans thru loan brokers who attest thru written declaration they have done all the necessary checks and the applicant has passed them all.

If that loan broker is writing fraudulent loans (think 2008 mortgage crisis and NINJA loans) many banks will not catch it until enough of them explode and they then investigate.

so has a bank initiated investigation?

the judge has no standing.


or sitting.

no standing and no sitting, and no spitting.

 

[QP!]

The "lies" about square footage, etc. will always get caught, because you can't make the property larger on the inside than it is on the outside. The reality is in real estate in particular there are myriad filed permits that tell folks what is done to the property and give the appraisers the ability to make very good evaluations of the actual value of a property. Banks do not give you loans on guesses, they don't make guesses, nor do they rely on what you report to them about those things.

Banks don't just throw money around based on what you tell them, they check and double check. Crap I had to give years of bank statements to prove that what I said I made was real, literally I sent thousands of pages of documents to the bank so I could get a loan for a house... My accountants were helpful, but the bank was not going to just say "okay" like Goofy in a Disney cartoon because they just said something...

I do not know why you are replying with that when that is not what we are discussing. Because they do SOME CHECKS and may catch SOME THINGS, does not mean they do not ALSO rely on written declarations.


I understand you are amongst the derps here who will keep denying that even as i quote Trump's bankers sworn statements in court above that they relied on Trumps declarations, to enough of a degree that it was instrumental in him getting his loans and they were later shocked at the degree of core information Trump hid and lied about.

But derps, gonna derp, so you will ignore that and keep spewing nonsense.

 

[QP!]

so has a bank initiated investigation?

the judge has no standing.


or sitting.

no standing and no sitting, and no spitting.

I hope you can make it onto Trump's advisory team, as he always does well with the type of advice you, Sydney Powell and John Eastman tell him is fact, and thus he does not have to worry.

People wonder why the right loses at everything now, with the type of IQ they show us constantly on their bench. flol.

 

[QP!]

The readers of this thread must realize that Damocles and the others here saying you can lie and represent anything you want to get a loan or insurance and it is not a crime because the Banks do some checks are not just wrong but very stupid.

Buyer beware is done to help protect the lender but it DOES NOT absolve the borrow of his lies as they want you to believe.

Banks and Insurance companies ALSO rely on legal attestations. So you will sign a form, for instance saying you have not given any other legal incumbrancers on your assets, as it is possible you gave a private contract of security to another person over the landor assets that is not registered and thus the Bank would not find it in diligence. The bank does not want some 3rd party person showing up with a signed contract from you, from years prior, that they hold security over the land. the bank relies on that attestation from you that the land is 'unencumbered', even though they might check for 'registered' encumbrances.

So do not be fooled by derps , like Damocles, who are arguing 'lying is fine to do as the banks do their own checks'. The latter does not mean you do not commit a crime, if you lie.

 

[Into the Night]

this case will be thrown out at the supreme court level after its appealed.

you people are insane.

Doesn't even look like it will go that far. It's already being dismantled by the appellate court.

 

[Into the Night]

I do not know why you are replying with that when that is not what we are discussing. Because they do SOME CHECKS and may catch SOME THINGS, does not mean they do not ALSO rely on written declarations.


I understand you are amongst the derps here who will keep denying that even as i quote Trump's bankers sworn statements in court above that they relied on Trumps declarations, to enough of a degree that it was instrumental in him getting his loans and they were later shocked at the degree of core information Trump hid and lied about.

But derps, gonna derp, so you will ignore that and keep spewing nonsense.

Damocles did not 'spew any nonsense'. He is absolutely correct here.

 

[QP!]

yes it does, actually.

No it does not.

I have cited above numerous legal statutes that criminalize lying on those doc's.

But herp derp away with your stupidity. It is not the first time.

It is why the right is doomed to lose. The party is filled with the type of derp stupidity you repeat here.

 

[QP!]

The election committees check to see if you lie and try to vote twice or vote for a dead person and thus since they do their own diligence and deny the votes of those they catch, then that means it is not against the law, to lie and vote twice or vote for a dead person.


Herp derp, herp derp, I am Damocles and JesusAI and thus that makes sense to me. Herp derp.

 

[T. A. Gardner]

I can do better than that. Below is from the findings of guilt already rendered against Trump which are coming out of the court documents.

So, New York state has convicted Trump of multiple felonies in a criminal trial? Really? When did that happen?

When did Trump commit insurance fraud?

 

[PostmodernProphet]

I posted you several of the laws, you failed to comment on those posts, you ran.

I ran from nothing.....I will be happy to look at them.....which thread did you post them in?......

 

[PostmodernProphet]

I can do better than that. Below is from the findings of guilt already rendered against Trump which are coming out of the court documents.

thanks.....if that is the basis of the "crime" it obviouly has been improperly applied......this applies to fraudulent insurance claims......what claim did Trump file?......