QUOTE(diffyhelman2 @ Apr 9 2020, 01:39 PM)
Hasn’t loan compression scam been tightened up? Still not made illegal yet? Banks haven’t improved their checking procedures for these kind of schemes?
now compressed loans are much tighter, those were purchased back then from 2017-2020 period transaction fall alot..
but if you still want to go behind the system, there are humans who can think of the best ways one..
one of the point i can raise is the valuers and the appraisal board , take instance one property A,
the valuation report for loan approving stands at 500k value, force value 430k maybe..
the valuation report for recovery/auction purposes stands at 400k/450k, force value , 380k
this pattern is very weird.... even both of them run simultaneously within the same area...