Sunday, January 28, 2007
What's Up With Nigel?
Frankly, for a while I was ot paying attention to the sniping going on with Nigel. It didn't seem important until I discovered that he as a liscienced mortgage broker didn't think Casey was commiting any more crimes. This was my "WTF?" moment. Below my exchange awaiting moderation on his site:
1. The owner change was reported. It was even recorded by the title company with the county recorder's office when the wrap took place. It's a public record the lender can look up at any time.
Now I am begining to understand some of the comments I am seeing elsewhere. Casey hasn't reported the wrap to his lenders, that's why he was notified when the checks were not getting through. It isn't up to the lender to check title. It is up to Casey to notify and he admits he did not.
2. No it isn't. It can simply trigger the due on sale clause which the lender may or may not exercise.
Please get your facts straight before you accuse people of crimes they haven't committed.
Your opinions are noted. Your opinions might someday prove inconvienient should you find yourself caught up in a witch hunt as the mortgage lending industry implodes and bumbling prosecutors cast about for public examples.
Accusing me of not having the facts just because you disagree was unnecessary and inflamatory. But that probably explains your feeling the need to vet comments. People who are comfortable with their positions don't need to control all sides of the conversation.
Does everyone have the same bad feeling when a mortgage broker doesn't see anything wrong with wrapping a mortgage and not telling the lienholder? What if he's telling his clients this on wraps he's brokering? What if thousands of brokers are doing the same?