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To: driftdiver
[The difference between bank and mortgage company is a technical difference.]

Fiduciary responsibility is much more than just a "technical" difference.

It's a legal and moral obligation... 

Ameriquest -Proud Sponsors Pirates of the American Dream

 

....neither of which applied to Roland Arnal's Sub-prime pirate armada where...

 

...mortgage fraud, drugs, sex, and money, money, and more money. My friend and manager handed out crystal methamphetamine to loan officers in a bid to keep them up and at work longer hours. At any given moment inside the restrooms - cocaine and meth was being snorted by my estimates more than a third of the staff, and more than half the staff manipulating documents to get loans to fund and more then 75% just completely made falses tatements on 1003s regarding stated income etc to get loans funded. A typical welcome aboard gift was a pair of scissors, tape, and white out, three things a loan officer or financial professional should never need.. Of course no where in training OR in management training did this 20 year old ever learn that false statements on a 1003 were a federal offense....

http://www.freerepublic.com/focus/news/2184646/posts?page=8#8

 



44 posted on 04/24/2011 9:45:30 AM PDT by LomanBill (Animals! The DemocRats blew up the windmill with an Acorn!)
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To: LomanBill

“Fiduciary responsibility is much more than just a “technical” difference.”

Both mortgage companies and banks have a fiduciary responsibility defined by law.


45 posted on 04/24/2011 10:20:11 AM PDT by driftdiver (I could eat it raw, but why do that when I have a fire.)
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