creloanadvisors

Wells Fargo sues JPMorgan over $481M CRE loan | John Flynn Are Unaffordable Rents fueled by CMBS Mortgage Fraud? Wells Fargo, as a CMBS trustee, is suing JPMorgan for allegedly selling $481M in loans backed by grossly inflated property incomes and values, fo...

Are Unaffordable Rents fueled by CMBS Mortgage Fraud?

#CMBS #CRE #RealEstateLaw #JPMorgan #WellsFargo #HousingCrisis #Fraud #Mortgagefraud #Multifamily #Office #RealPage #SEC #Affordablehousing #Foreclosures #Housingmarket #LisaCook #FHFA

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Wells Fargo sues JPMorgan over $481M CRE loan JPMorgan failed to conduct due diligence on the commercial real estate loan, then quickly offloaded the risk, “taking home millions of dollars of fees in the process,” Wells asserted.

This is exactly the fraud that I exposed to the #SEC six years ago. Its time for enforcement.

JPM “massively overstated” the historical NOI of the properties by 25%, in the $481M loan sale, then values crashed.

#CMBS #CRE #Multifamily #Office #GFC #Fraud

www.bankingdive.com/news/wells-f...

That's the playbook: Inflate NOI & value, change the name or address, & sell the toxic loan to investors for yield when rates lower. New York renters & pensions pay the price. Congress must compel the SEC to stop mortgage lenders from gouging renters.

#HousingJustice #SEC

The solution: Investigate. Subpoena. Claw back billions for New York state and city from REMIC violations. And Congress must compel the SEC to end the enabling policies that let this fraud devastate renters and investors. It's time for accountability.

#ClawBackNYFunds #SocialHousing

Estimates are a staggering 1/3 of CMBS loans are inflated—a systemic fraud worth TRILLIONS. CMBS funds the majority of US multifamily buildings, meaning the fraud dictates rent prices nationwide.

#RealPage #HousingJustice#HousingJustice #SEC

Don't you like Cole's fresh salmon selection?

Whistleblower: Wall Street Has Engaged in Widespread Manipulation of Mortgage Funds Securities that contain loans for properties like hotels and office buildings have inflated profits, the whistleblower claims. As the pandemic hammers the economy, that could increase the chances of a...

Obama fixed it? Lol

www.propublica.org/article/whis...

Whistleblower: Wall Street Has Engaged in Widespread Manipulation of Mortgage Funds Securities that contain loans for properties like hotels and office buildings have inflated profits, the whistleblower claims. As the pandemic hammers the economy, that could increase the chances of a...

Who would've thought???

www.propublica.org/article/whis...

I'm asking for a friend:
Are sales of fraudulently sold QM's Void or Voidable?

I think i said the same anti Bernie ppl are anti RFK

Seems that most anti Bernie people are attacking RFK Jr

Whistleblower: Wall Street Has Engaged in Widespread Manipulation of Mortgage Funds Securities that contain loans for properties like hotels and office buildings have inflated profits, the whistleblower claims. As the pandemic hammers the economy, that could increase the chances of a...

You can tweet that again

#CMBS #DEBT #CRE #Bankfraud
www.propublica.org/article/whis...

Damn right. CMBS data publishing firms have known about inflated CRE profits and values used in loan sales for years

bsky.app/profile/crel...

bsky.app/profile/crel...

Whistleblower: Wall Street Has Engaged in Widespread Manipulation of Mortgage Funds Securities that contain loans for properties like hotels and office buildings have inflated profits, the whistleblower claims. As the pandemic hammers the economy, that could increase the chances of a...

@govkathleenhochul.bsky.social should do more

Prosecute private equity firms and banks for creating #GFC2 through inflating collateral rents and values en masse in CMBS loan sales & avoiding NY State and Federal taxes

#Office #CMBS #ABS #NewYork #bankfraud

www.propublica.org/article/whis...

4 yrs ago, you showed how CMBS fraud leads to fake collateral value and rent increases. RealPage's algorithm is necessary to help cover up the fraud.

bsky.app/profile/crel...

Whistleblower: Wall Street Has Engaged in Widespread Manipulation of Mortgage Funds Securities that contain loans for properties like hotels and office buildings have inflated profits, the whistleblower claims. As the pandemic hammers the economy, that could increase the chances of a...

Inflated collateral rents, profits and values are used in the multifamily CMBS loan sales. RealPage and landlords use algorithms to increase collateral rents without detection, despite lower market rents and demand.

Good job! @heathervogell.bsky.social

www.propublica.org/article/whis...