Email from my personal Banker! (My 1st bank story)

[Nelson0528]

Okay, I could buy that... but, why now?!

Well, it is apparently a recent development with those banks. I don't want to say exactly what he told me; because I cannot prove it, and I do not want to bad mouth any bank in particular without proof. But, supposedly it centered around loans being made without accurately verifying borrowers income and assets. So, now that all these many loans around the country are either in default, or at risk of it, of course FHA and the like are investigating why the numbers are so high. Supposedly they have fined these lenders and are requiring all these changes in the process (not so much changes as mandatory enforcement of prior requirements). But, it appears that these lenders are having to review all those loans and work with the borrowers to modify their mortgages to keep them out of default. I do NOT know any details, only what my friend loosely explained to me as the banks reaction to federal pressure resulting from prior omissions in their responsibilities. Again, maybe someone from the mortgage industry can help verify some of this?...

[TQueezy]

Well, it is apparently a recent development with those banks. I don't want to say exactly what he told me; because I cannot prove it, and I do not want to bad mouth any bank in particular without proof. But, supposedly it centered around loans being made without accurately verifying borrowers income and assets. So, now that all these many loans around the country are either in default, or at risk of it, of course FHA and the like are investigating why the numbers are so high. Supposedly they have fined these lenders and are requiring all these changes in the process (not so much changes as mandatory enforcement of prior requirements). But, it appears that these lenders are having to review all those loans and work with the borrowers to modify their mortgages to keep them out of default. I do NOT know any details, only what my friend loosely explained to me as the banks reaction to federal pressure resulting from prior omissions in their responsibilities. Again, maybe someone from the mortgage industry can help verify some of this?...

I get why they would be doing it, but just now having to start looking into those issues right while all this with bank rumors and Turki talking about banking policy and reform... Just seems too coincidental to not mean anything that they suddenly need a bunch of financial account specialists. That's all I'm saying.

[genx4me]

I can feel amore in the air... oops :)/> should I say excitement in the air :)/> I have not felt the energy and excitement like this week when Hossier posted his bank story. I think a lot of us have been tired of the same rumor mill that was spun over and over again and Hossier is such a fresh air n the crowded train. Between Hossier's bank story, Adam's drive by and Betty's crystal, I think we got it all covered and let's wait with anticipation the fruition of our long waiting. Finally, we can see the station from afar... don't jump off the train yet... you will be running a marathon to get to the station :)/> hang on tight... it will be there and soon you will be able to get off and stretch and enjoy the view :)/>

Plus Daytrader said he heard the same thing from his banker last week that Hoosier said. I always appreciate what daytrader has to say!! Lots of positive things.

[tommy17]

Well, it is apparently a recent development with those banks. I don't want to say exactly what he told me; because I cannot prove it, and I do not want to bad mouth any bank in particular without proof. But, supposedly it centered around loans being made without accurately verifying borrowers income and assets. So, now that all these many loans around the country are either in default, or at risk of it, of course FHA and the like are investigating why the numbers are so high. Supposedly they have fined these lenders and are requiring all these changes in the process (not so much changes as mandatory enforcement of prior requirements). But, it appears that these lenders are having to review all those loans and work with the borrowers to modify their mortgages to keep them out of default. I do NOT know any details, only what my friend loosely explained to me as the banks reaction to federal pressure resulting from prior omissions in their responsibilities. Again, maybe someone from the mortgage industry can help verify some of this?...

I'am sorry 'i don't believe that banks modifing loans 'to keep people from defaulting. I've been trying for over a year (remodify loan)and the banks have no interest in helping anyone. I got a friend who is losing his home and the banks won't work with him either. We've been hearing that banks are going to remodify loans for 3 years and it just has never happened and it won't now.

[miraj]

I think it may have more to do with the rules that are coming but as always, just a guess

http://news.investors.com/ibd-editorials-perspective/011413-640522-cfpb-denies-high-cost-lenders-legal-shield.htm

[SnowGlobe7]

yup..they are not working at all with people.

[LAWRENCEOFDINARIA]

you think Indiana is bad then you know how bad Michigan winters can be.( Love Florida )

We've still got plenty of room down here on the sandbar... So come on down, it was 86 today

Thanks Hoosier, for sticking your neck out and sharing

[staunch]

I think it may have more to do with the rules that are coming but as always, just a guess

http://news.investors.com/ibd-editorials-perspective/011413-640522-cfpb-denies-high-cost-lenders-legal-shield.htm

Yeah, they are about to start enforcing the rules that have been there all along. Ignoring those rules is what led to all the foreclosure problems.

[Mammaw]

This is kinda off topic...but I though that there might be some of you out there who like riddles...so here it goes! A man walks up onto an accident on the highway. Upon walking up to the scene, he is looking down at a deceased young man laying on the roadway. He begins to weep as he stands there looking at the deceased young man. A police officer noticed that the man was obviously very upset over the situaltion....So the officer asked the man, "Do you know this deceased young man"? The man replied....Brothers and sisters have I none..but that mans father, is my fathers son! what is the relationship between the man and the deceased young man???

Back in '68 my father told me this riddle, when he returned from Vietnam. But the way he told it was the man was looking at a photo on the wall and said, Brothers and Sisters I have none, but that man's father, is my father's son. ...you are right ..it was his son he was seeing in the photo. I tell it to my grandchildren. How time flies...

[mcdinarut]

Mmmuuuahahahabahaha.

#666

And yes, I camped out for this opportunity.

B)/> :angel:/>

Bummer you missed it:). Nadita stole your thunder- I don't think she is an evil genius though. I think She would rather you had the 666.

[truepatriot]

i won't say the rate and if you do a little digging you'll figure out the month. i was fortunate to have conversations with an old friend that works for the ust. these were confidential calls and we dont talk anymore because i told him i was alone and he heard another person in the back ground

Hmmm is the month May?

Could you plz at least tell me if the rate will exceed the US Dollar?

[hoosier1470]

I can feel amore in the air... oops should I say excitement in the air I have not felt the energy and excitement like this week when Hossier posted his bank story. I think a lot of us have been tired of the same rumor mill that was spun over and over again and Hossier is such a fresh air n the crowded train. Between Hossier's bank story, Adam's drive by and Betty's crystal, I think we got it all covered and let's wait with anticipation the fruition of our long waiting. Finally, we can see the station from afar... don't jump off the train yet... you will be running a marathon to get to the station hang on tight... it will be there and soon you will be able to get off and stretch and enjoy the view

Totally agree!!

Back in '68 my father told me this riddle, when he returned from Vietnam. But the way he told it was the man was looking at a photo on the wall and said, Brothers and Sisters I have none, but that man's father, is my father's son. ...you are right ..it was his son he was seeing in the photo. I tell it to my grandchildren. How time flies...

Lol...yeah..its been around for awhile...though some have a hard time with the play on words!! I have several more that are basically the same setup..simple questions..just spinning the words a little ...and it turns into a mind Boggler!!!

[stonewall67]

This thread reminds me of the old days in the coop over at pd before they shut it down..... Just people hanging out enjoying each others company..... CHEERS!! "Is a dog eat dog world and I'm wearing milkbone underwear!"

[hoosier1470]

I am so happy that this thread has brought hope, inspiration, imagination, and anything else it has brought in a positive manner back to you...my friends here at DV! This is the only site I ever go to, and I'm glad that the info I received was encouraging!! Let's keep the positive, uplifting flow going! It does absolutely no good for anyone when everything begins to turn negative! With that....I will say Good night to all!! God Bless!

[wc41]

I am so happy that this thread has brought hope, inspiration, imagination, and anything else it has brought in a positive manner back to you...my friends here at DV! This is the only site I ever go to, and I'm glad that the info I received was encouraging!! Let's keep the positive, uplifting flow going! It does absolutely no good for anyone when everything begins to turn negative! With that....I will say Good night to all!! God Bless!

Good nite Hoosier be blessed! Adding my echo to everyones thanks!!

[respectron]

Hossier,

Just wondering if you can ask your friend at the bank about dong. Is it going to go up..? it would be great when dinar rv's but topping it with dong will be even greater

[motox565]

We've still got plenty of room down here on the sandbar... So come on down, it was 86 today B)/>

Thanks Hoosier, for sticking your neck out and sharing :)/>

Looks like you race Moto ....it's nice to be in a climate that is conducive to riding during winter months, I'm kinda jealous Brutha.

Snow covered terrain sure sucks when you want to twist the ole throttle......instead, I'm stuck shoveling snow part of the year..freeeezing cold fingers ect. Feel bad for me yet? Lol BTW, cool pic.

[Nelson0528]

I get why they would be doing it, but just now having to start looking into those issues right while all this with bank rumors and Turki talking about banking policy and reform... Just seems too coincidental to not mean anything that they suddenly need a bunch of financial account specialists. That's all I'm saying.

TQ,

i hear ya. Just coincidence. This problem with the mortgage industry has been brewing for years; and really, because of government pressure and incentives to lend to less qualified buyers (remember the claim that if they got more people into their own homes the economy would be stimulated through housing production? Brilliant idea...). Biting them in the butt now I would say: and the banks too. Again just another fine example of how our government has failed us. But, that is another story...

I'am sorry 'i don't believe that banks modifing loans 'to keep people from defaulting. I've been trying for over a year (remodify loan)and the banks have no interest in helping anyone. I got a friend who is losing his home and the banks won't work with him either. We've been hearing that banks are going to remodify loans for 3 years and it just has never happened and it won't now.

tommy,

Sorry to hear of your struggles. I know there are many people hurting right now, and have been for several years. Thus, this is a relatively sensitive topic. So, I will just say that I know they are modifying many loans throughout the country depending on the type of loan product it is. There are federal guidelines for the modifications and who is eligible. If you are interested, you can read up on the HAMP program that covers FHA loans. Maybe it can help someone before it is too late...

I think it may have more to do with the rules that are coming but as always, just a guess

http://news.investors.com/ibd-editorials-perspective/011413-640522-cfpb-denies-high-cost-lenders-legal-shield.htm

THANK YOU miraj!!!

That is EXACTLY the type of government intervention that has created the mortgage mess. And yes, the Big Banks will need more mortgage underwriters to handle the load. Definitely NOT RV related. Thanks for the post! +1

[Annastasia]

Another DV member not having the nerve to finish a lie.

[Nelson0528]

Another DV member not having the nerve to finish a lie.

Did i miss something? Aren't we waiting to see what happens starting Feb 1 through mid May? What lie are you referring to?... Do tell... do tell... we love the juicy bits too!... lol

[ChuckFinley]

WOW. Just could not sleep and thought I would pop back over to see what was happening. I have not seen this much action since the days that we are going to RV on Monday, Wednesday or Sunday.

[miraj]

Yeah, they are about to start enforcing the rules that have been there all along. Ignoring those rules is what led to all the foreclosure problems.

Staunch...I could have misunderstood but the current administration in their apparent ultimate wisdom intend to force banks to lo loan to sub prime again. Similiar, I believe, to the definition of insanity in doing the same thing over and over with the same results. You have to admire their tenacity though...:-)

[hoosier1470]

Hossier,

Just wondering if you can ask your friend at the bank about dong. Is it going to go up..? it would be great when dinar rv's but topping it with dong will be even greater

What does that suppose to mean...?

Of course i asked about that..but it was not mentioned during their meeting...IQD was the only one spoken of. Sorry.

[Pockets]

what a thread! thanks hoosier.

[LAWRENCEOFDINARIA]

Looks like you race Moto ....it's nice to be in a climate that is conducive to riding during winter months, I'm kinda jealous Brutha.

Snow covered terrain sure sucks when you want to twist the ole throttle......instead, I'm stuck shoveling snow part of the year..freeeezing cold fingers ect. Feel bad for me yet? Lol BTW, cool pic. :cool:src="http://dinarvets.com/forums/public/style_emoticons/default/cool.gif">

Thanks for asking moto and the kind words. I used to race pro motocross years ago in the 70's right after dirt was invented, haha. Now mainly offroad, GNCC Harescrambles and Enduros, Master A class. I guess what I'm saying, is that I'm to old now to aggressively hit those 80' plus jumps like you younger guy's but don't mind missing trees by only inches at 70mph lol! You know... once its in your blood, its always there right?

I don't envy the snow shoveling this time of year for you guy's in those parts but... By June down here its liable to be a dripping with humidity, 96 degree day by eleven o'clock, mx gloves and inside of helmet soaked with sweat while trying to practice and race... It goes on until the end of Oct, then it gets good again for the other 6 months. Guess there's always a trade off.

Shoot me a pm so I can hear your throttle twistin w-freakin-o storys!

Hoosier, hope your Grandfather is doing as well or better than expected, God bless