Off-Topic: Mr. FLY
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Name:   lucky67 The author of this post is registered as a member - Email Member
Subject:   Mr. FLY
Date:   1/3/2019 9:37:02 AM (updated 1/3/2019 9:38:37 AM)

GF--heres my response to your "cut & paste" about the CFPB; while the  details i can offer  are limited in scope due to the legal work I do on Financial Fraud & due to Confidentiality Agreements, I can disclose the following;

CFPB was created by Elizabeth Warren , and pushed through by her buddies Barney Frank, & Chris Dodd ( hence the Dodd Frank legislation) ; all were close friends with Angelo Mozillo, Chairman of Countrywide Financial--surely you know the crimes that CF precipitated causing the mortgage meltdown & devastation to families nationwide ( i worked on( & continue to)some of the cases)--(but he still resides & tans  on the beach in Malibu); I personally saw closing statements on loans Mozillo made to Dodd & Frank--NO  fees, below market interest rates,  non-qualifying, NINJA loans we call them--no income, no qualifying-- etc.--have you received any of those lately ??;

the past 2  directors of the CFPB & the current one, have ZERO lending experience; the Board is the same--I was Nominated, but CFPB doesnt want Board members who have 44+ YEARS of on hands  practical experience in the Industry, with over 25 National  references;

CFPB while under the "capable authority" of the  Federal Reserve, is independent of most Gov't rules & practices--; i.e. SALARIES & OVERSIGHT';

As example; currently there are over 1650 employees; the average salary at CFPB is $132,965; highest is $259,500; over 165 employess make in excess of $200,000, ; 240 employees 'earn" more than the Governors of ALL 50 STATES;

While I concede they have won some concessions; they have wreaked havoc with the remaining GOOD lending instituitions--mainly mortgage brokers & lenders--the reporting & regulations have & cointinue to strangle the industry--just ask anyone who has applied for a mortgage recently.--

It is curious to note they have not objected to Bank of America"s new loan program just announced: "$10 Billion for home buyers--NO INCOME OR CREDIT QUALIFYING REQUIRED "--sounds like DEJA VU to me ( as a side note, B of A acquired Countrywide before the S_ _ t hit the fan ;I also worked, successfully on behalf of homeowners wrongfully foreclosed on & denied loan modifications by  B of A & have some currently in process;

So copy & paste Warrens baby project all you want, but I'm sure she wont be rushing to promote the program on the campaign trail;

Happy New Year

 

Other messages in this thread:View Entire Thread
Fauxahontas Warren....I like beer - MartiniMan - 1/2/2019 8:46:09 AM
     Isn't It? - Old Diver - 1/2/2019 10:34:22 AM
          Isn't It? - au67 - 1/2/2019 12:53:13 PM
     Fauxahontas Warren....I like beer - au67 - 1/2/2019 12:49:51 PM
     Fauxahontas Warren....I like beer - lucky67 - 1/2/2019 5:19:08 PM
     Fauxahontas Warren....I like beer - Talullahhound - 1/2/2019 5:52:37 PM
          Fauxahontas Warren....I like beer - lucky67 - 1/2/2019 6:00:21 PM
               Mr. FLY - GoneFishin - 1/2/2019 7:00:22 PM
                    President Elect Warren Is Smarter Than The Right - GoneFishin - 1/2/2019 10:39:29 PM
                    Mr. FLY - lucky67 - 1/3/2019 9:37:02 AM
                         Mr. FLY - GoneFishin - 1/3/2019 1:11:24 PM
                              Mr. FLY - lucky67 - 1/3/2019 1:45:46 PM



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