Overvalued Real Estate - Is Latisha James Playing With Fire in Trump matter?

[Kilroy2]

As a former appraiser, I will explain it to you like this. A bank never would use only one appraisal. They would want several appraisals by top notch appraisers. Would you as the banker rely only on the word of the owner?

I have at various times in my appraisers career been tasked by various lenders to examine a value given by a particular appraiser and they ask me for my view on the appraisal.

I recall a case of the appraiser who signed his appraisals with the title of PhD. While he was in fact licensed, the title meant nothing to me. I examined the subject and the comparables and came up with the verdict his appraisal was high. Believe me, a mans job was on the line so for me to not agree with him was not fun. I knew of appraisers who did poor work,. And his was also poor work. So I told the lender the honest value and backed it up so they accepted my value and tossed his.

Well I do not doubt what you say. Another issue is the relationship between the borrower and the lender. It can be said that if you pay off previous loans , you establish a relationship with the lender and probably be easily accepted for additional loans.

Deutsche Bank had a 2 decade relationship with Trump so they were inclined to ignore valuations because Trump probably has paid off numerous loan with them and they made good money.

​

 

[Robert W]

It may be difficult but where is the line between between realistic differences and total exaggeration. There are two sides of the story and they would have to meet somewhere in the middle that is fair to both sides.

Does ones ego play a part in this?

A modest man would be cautions and fair

An ego eccentric will go wild

I will do the professional job this way. First me. I appraised my first property as an appraiser in 1975. I also was a licensed broker and frankly without computers, appraisals was a pain in the ass. But I later was one of the Directors for the California Association of Realtors. We formed committess to address many probvlems. I was there for 3 years. I got word that the Feds planned to license appraisers. I applied for the Federal license and they credited me with many appraisals. Then I was sent the license to appraise. Still lenders did not simply take my word. I had to prove to lenders I could appraise correctly. So I did just that. And over a period of 5 more years, amassed a good many banks and lenders to accept my appraisals. I had a top rated reputation.

Back to this issue. That property they are complaining about, both in Florida and in NY City are enormous properties. Most appraisers never get close to such huge properties as those were owned by Trump.

Now you. You today are the lender that Trump wants to loan him money. How do you protect your own bank?

Myself and Leo also posting here were appraissers of property daily. We made our incomes that way. In my case I also owned a loan firm and a Brokerage that handled real estate sales. I was in all 3 phases.
If you want the truth, you need to choose to pick a lawyer who promised to persecute Trump or a pair of genuine former appraisers, me and Leo.

 

[Kilroy2]

There are sloppy assessors, sloppy appraisers, sloppy borrowers and also sloppy news sources. The Guardian is one of the sloppy news sources.

A sloppy AG is prosecuting/persecuting Trump. Trump has experts on his side. Guess who will lose?

Maybe but it really is widely know that they had a relationship for many years and there are other sources that say the same thing. So it is kind of hard to make a mistake on this as a new source.

 

[Kilroy2]

I will do the professional job this way. First me. I appraised my first property as an appraiser in 1975. I also was a licensed broker and frankly without computers, appraisals was a pain in the ass. But I later was one of the Directors for the California Association of Realtors. We formed committess to address many probvlems. I was there for 3 years. I got word that the Feds planned to license appraisers. I applied for the Federal license and they credited me with many appraisals. Then I was sent the license to appraise. Still lenders did not simply take my word. I had to prove to lenders I could appraise correctly. So I did just that. And over a period of 5 more years, amassed a good many banks and lenders to accept my appraisals. I had a top rated reputation.

Back to this issue. That property they are complaining about, both in Florida and in NY City are enormous properties. Most appraisers never get close to such huge properties as those were owned by Trump.

Now you. You today are the lender that Trump wants to loan him money. How do you protect your own bank?

Myself and Leo also posting here were appraissers of property daily. We made our incomes that way. In my case I also owned a loan firm and a Brokerage that handled real estate sales. I was in all 3 phases.
If you want the truth, you need to choose to pick a lawyer who promised to persecute Trump or a pair of genuine former appraisers, me and Leo.

well then give a honest professional opinion on the judges point of the valuation being overvaluation of at least 2,300%

No need to go into what the local tax property appraisals is. Everyone knows it is what it is.

just an opinion on the huge percentage and is this normal.

 

[Robert W]

Yep, I was certified for 25+ years and can totally relate to that. Some of appraisals I reviewed were pretty bad.

I recall an appraiser I will only disclose his nick name. Buzz ---- got licensed to appraise. He would at times show up at my office asking for help. I knew him for a long long time. His work was not up to my firms standards. Yet as a friend of mine, I would help him do it right.

Buzz was a licensed Broker and was expert in selling property. But he was not correctly trained to appraise. Still he had customers that the way I recall him he got jobs from credit unions. They for some reason simply took his word. As a Broker of many years, he might be weak on writing appraisals yet know the actual value. I showed him how to use appraisal software to help him derive values. I also taught this technique to a man who owned an appraisal school. He told me he had appraised for many years for a bank he was hired at. Still I found his students to be only half assed taught. i took several of them and schooled them on correct appraisal techniques that they never had learned correctly.
Leo, on this forum is also well schooled. We have chatted enough to understand we both know this topic very well. We both are telling you if you will only listen, banks are not stupid. They do not simply say oh hell, you are Trump so we trust you. They will want protection even more due to the extreme value of the properties. They will consult more than one appraiser they trust. They may have half a dozen do the same job. You think they trusted Trump? That is very amusing if you think they did.

 

[Robert W]

well then give a honest professional opinion on the judges point of the valuation being overvaluation of at least 2,300%

No need to go into what the local tax property appraisals is. Everyone knows it is what it is.

just an opinion on the huge percentage and is this normal.

The judge has no clue of the value.

I will finish since I am watching Dr. Phil discuss fraud.

I have an opinion on the Judge. He quit judging when he found Trump guilty.

Trump was never allowed to give his side. That is incorrect judging. Judges would want to get all information. This judge says his value is based on the value of a different party working for a county assessor.

Leo and myself have reported here on this forum how even though licensed, some appraisers will do lazy work and come up with incorrect values.

I refuse to offer my opinion of the value of Trump's properties. I have never visited any of them. Leo will not do it either. I say it without even asking him. We are not idiots.

I saw enough of the Judge when he explained how he derived a value. He has no clue what the value of any of the Trump properties are.

Ask Leo if you think I am wrong.

 

[Kilroy2]

The judge has no clue of the value.

Would you value a property that is 2300 percent over tax appraisal numbers ?

Ultimately Trump is his own worst enemy. Instead of being silent and letting the lawyers argue his case he make snide comments in the court room Basically there really is no reason for him to be in court for a civil trial. That why he pays the lawyers. Still do you want to annoy the judge and show a lack of respect.

 

[Robert W]

Would you value a property that is 2300 percent over tax appraisal numbers ?

Ultimately Trump is his own worst enemy. Instead of being silent and letting the lawyers argue his case he make snide comments in the court room Basically there really is no reason for him to be in court for a civil trial. That why he pays the lawyers. Still do you want to annoy the judge and show a lack of respect.

First, Trump is often guilty of fighting back. And he should be afforded the opportunity to fight back. The Judge is his own worst enemy. Should you trust a loose cannon Judge?
Trump's lawyer get shitty treatment too.

 

[Robert W]

Maybe but it really is widely know that they had a relationship for many years and there are other sources that say the same thing. So it is kind of hard to make a mistake on this as a new source.

Have you ever read in a newspaper things said about you?

I have read in the newspaper things said about me. And it was pure nonsense.

 

[Robert W]

Well I do not doubt what you say. Another issue is the relationship between the borrower and the lender. It can be said that if you pay off previous loans , you establish a relationship with the lender and probably be easily accepted for additional loans.

Deutsche Bank had a 2 decade relationship with Trump so they were inclined to ignore valuations because Trump probably has paid off numerous loan with them and they made good money.

​

Well now you are talking my language. Definitely one will earn by honest and keeping promises made to banks, their desire to do more for you. We will all agree to that part. But we are talking enormous sums. It seems Trump will need Deutsche bank to testify for him.

 

[Kilroy2]

The judge has no clue of the value.

I will finish since I am watching Dr. Phil discuss fraud.

I have an opinion on the Judge. He quit judging when he found Trump guilty.

Trump was never allowed to give his side. That is incorrect judging. Judges would want to get all information. This judge says his value is based on the value of a different party working for a county assessor.

Leo and myself have reported here on this forum how even though licensed, some appraisers will do lazy work and come up with incorrect values.

I refuse to offer my opinion of the value of Trump's properties. I have never visited any of them. Leo will not do it either. I say it without even asking him. We are not idiots.

I saw enough of the Judge when he explained how he derived a value. He has no clue what the value of any of the Trump properties are.

Ask Leo if you think I am wrong.

I am not saying your wrong. I am just asking a question?

IF you do an evaluation and the difference was over 2300% from what the appraisal value is. Is that a normal range of differences.

you got things to do so that is fine but I just asked a simple yes or no question.

 

[Robert W]

This will be excellent information for every viewer on this forum.

What Banks Look for When Reviewing a Loan Application

What Banks Look for When Reviewing a Loan Application. Articles on acquiring financing for a business.

www.wolterskluwer.com

Read the following but verify using the link. I was not able to copy all of it.

Five keys of loan applications​

1. The most fundamental characteristics most prospective lenders will concentrate on include:

2. Credit history

3. Cash flow history and projections for the business

4. Collateral available to secure the loan

5. Character

6. Myriad pieces of loan documentation that includes business and personal financial statements, income tax returns, a business plan and that essentially sums up and provides evidence for the first four items listed

The first three of these criteria are largely objective data (although interpretation of the numbers can be subjective). The fourth item—your character—allows the lender to make a more subjective assessment of your business's market appeal and the business savvy of you and any of your fellow operators. In assessing whether to finance a small business, lenders are often willing to consider individual factors that represent strengths or weaknesses for a loan.

Tools to use​

To give you an idea of what banks specifically focus on when reviewing a loan request, the Tools & Forms section contains a sample business loan application form that is typical of the kind of documentation you'll need to complete as part of your loan application package.

We also include an internal bank loan review form used by one small community bank to make its own review of a small business loan.

Credit history​

Lenders will want to review both the credit history of your business (if the business is not a startup) and, because a personal guarantee is often required for a small business loan, your personal credit history. We recommend obtaining a credit report on yourself and your business before you apply for credit. If you discover any inaccuracies or problems, you can correct them before any damage to your loan application has occurred. If you can, find out which credit reporting company your prospective lender uses and request a report from that company.

Reviewing your commercial credit history​

Before you apply for commercial credit, you should review a credit report on your own business, if your business has been in existence for a while. You can obtain a free Business Information Report on your own business from Dun & Bradstreet.

If D&B does not yet have any information on you, they will allow you to voluntarily obtain a listing by providing them with some basic information about your business.

Most conventional lenders will expect a minimum of four or five trade experiences listed on a business report before they consider the business creditworthiness. If you have been operating your business without credit, or with personal assets, you should consider making some trade credit purchases in order to establish a credit history for your enterprise.

Reviewing your consumer credit history​

Consumer credit agencies are required to remove any information from the report that cannot be verified or has been shown to be inaccurate. However, before you submit a letter disputing any debt to the credit reporting company, it's often a good idea to contact the relevant creditor directly. If an error was made, you can often clear up the dispute more quickly if you take the initiative.

If the dispute is not resolved and your credit report is not adjusted, you have the right to file a statement or explanation regarding the alleged debt with the credit report. If your credit report does have some tarnish on it, you might consider requesting that any creditors with whom you have had a good credit history, but who did not report the transactions, be added to the report. For a minimal fee, most credit bureaus will add additional creditor information.

Work smart​

The three major consumer credit reporting companies are TransUnion, Experian, and Equifax. Dun & Bradstreet is the largest business credit reporting agency.

Providing collateral to secure a loan​

When it comes to obtaining a secured loan, providing collateral is a must. To a bank, collateral is simply defined as property that secures a loan or other debt, so that the lender may be seize that property if the you fail to make proper payments on the loan.

Understanding your collateral options​

When lenders demand collateral for a secured loan, they are seeking to minimize the risks of extending credit. In order to ensure that the particular collateral provides appropriate security, the lender will want to match the type of collateral with the loan being made.

 

[Robert W]

I am not saying your wrong. I am just asking a question?

IF you do an evaluation and the difference was over 2300% from what the appraisal value is. Is that a normal range of differences.

you got things to do so that is fine but I just asked a simple yes or no question.

I tried to explain the error is the Judges. His comment was stupid in fact.
You say different than the appraisal value. Frankly I have never seen the actual appraisal. I would also verify the accuracy if one exists.

 

[Leo123]

I recall an appraiser I will only disclose his nick name. Buzz ---- got licensed to appraise. He would at times show up at my office asking for help. I knew him for a long long time. His work was not up to my firms standards. Yet as a friend of mine, I would help him do it right.

Buzz was a licensed Broker and was expert in selling property. But he was not correctly trained to appraise. Still he had customers that the way I recall him he got jobs from credit unions. They for some reason simply took his word. As a Broker of many years, he might be weak on writing appraisals yet know the actual value. I showed him how to use appraisal software to help him derive values. I also taught this technique to a man who owned an appraisal school. He told me he had appraised for many years for a bank he was hired at. Still I found his students to be only half assed taught. i took several of them and schooled them on correct appraisal techniques that they never had learned correctly.
Leo, on this forum is also well schooled. We have chatted enough to understand we both know this topic very well. We both are telling you if you will only listen, banks are not stupid. They do not simply say oh hell, you are Trump so we trust you. They will want protection even more due to the extreme value of the properties. They will consult more than one appraiser they trust. They may have half a dozen do the same job. You think they trusted Trump? That is very amusing if you think they did.

Yes, and it's amazing how these forum 'experts' think the borrower is responsible for telling the bank their property's value and for signing off on the loan. Their ignorance is epic. Trump did exactly the right thing, he had accountants submit P&L, submitted equity valuations, and probably much more but, rightly so.....He stated in those documents he gave to the bank NOT to rely on his assessment of Mar-A-Logo and to get their own. Honestly, this Fani bitch should be put in jail for even bringing these charges against him but, our US AG is a corrupt snake along with her.

And, of course, these TDS lemmings march along in lock step in their hatred and ignorance oblivious to the real facts.

 

[Leo123]

I tried to explain the error is the Judges. His comment was stupid in fact.
You say different than the appraisal value. Frankly I have never seen the actual appraisal. I would also verify the accuracy if one exists.

They're just ignorant. I have heard some ignorant idiots, here on the Forum, throwing around tax assessments as some kind of reliable property value. I have tried to school these idiots many times but they fall back on their incessant hatred and ignorance and stupidly while repeating the same lies over and over and over.

 

[Leo123]

I am not saying your wrong. I am just asking a question?

IF you do an evaluation and the difference was over 2300% from what the appraisal value is. Is that a normal range of differences.

you got things to do so that is fine but I just asked a simple yes or no question.

If that was an issue, the bank would not grant the loan. That is IF your information is even correct in the first place. Also, remember we are not talking about a run of the mill house loan here, there are many, many facets. Multi use for one, GBA vs GLA, income, location, business good will, name recognition, history of the property, on and on and on. Neither you our I are privy to the details.

No matter who provided the valuation, the bank loaned the money and it was all paid back in full. Where is the crime?

 

[Robert W]

Well I do not doubt what you say. Another issue is the relationship between the borrower and the lender. It can be said that if you pay off previous loans , you establish a relationship with the lender and probably be easily accepted for additional loans.

Deutsche Bank had a 2 decade relationship with Trump so they were inclined to ignore valuations because Trump probably has paid off numerous loan with them and they made good money.

​

To this discussion you raised excellent points. "Trust by the Banker of the Borrower."
Banks already have a record with you. So unless something tips them off, they are more likely to trust you than say a new customer. They have your Dun and Bradstreet report for instance. Most posters never read a Dun and Bradstreet report. I have since I joined them when I owned the machine shop. I wanted to see how credit worthy my customers were since I did jobs for them on credit. They would have the reports made on all of his businesses. To try to protect the lender. I learned of a bad credit report of a steel mill I did jobs for so I made them offers to get them to pay much faster. Also I did not stick my neck out to the point if they did not pay, I would be bankrupt.
Deutsche Had a good idea of his payment history and it seems a valid idea for the Judge to have first contacted them and found out why they trusted Trump.

 

[Robert W]

Yes, and it's amazing how these forum 'experts' think the borrower is responsible for telling the bank their property's value and for signing off on the loan. Their ignorance is epic. Trump did exactly the right thing, he had accountants submit P&L, submitted equity valuations, and probably much more but, rightly so.....He stated in those documents he gave to the bank NOT to rely on his assessment of Mar-A-Logo and to get their own. Honestly, this Fani bitch should be put in jail for even bringing these charges against him but, our US AG is a corrupt snake along with her.

And, of course, these TDS lemmings march along in lock step in their hatred and ignorance oblivious to the real facts.

It is merely TDS. I am sure that most here understand there are severe cases of Trump Derangement syndrome. They would handle it much different if we were to discuss the loans obtained by the Biden Crime family.

 

[Leo123]

To this discussion you raised excellent points. "Trust by the Banker of the Borrower."
Banks already have a record with you. So unless something tips them off, they are more likely to trust you than say a new customer. They have your Dun and Bradstreet report for instance. Most posters never read a Dun and Bradstreet report. I have since I joined them when I owned the machine shop. I wanted to see how credit worthy my customers were since I did jobs for them on credit. They would have the reports made on all of his businesses. To try to protect the lender. I learned of a bad credit report of a steel mill I did jobs for so I made them offers to get them to pay much faster. Also I did not stick my neck out to the point if they did not pay, I would be bankrupt.
Deutsche Had a good idea of his payment history and it seems a valid idea for the Judge to have first contacted them and found out why they trusted Trump.

The 'judge' is a nincompoop.

 

[BackAgain]

Anything that is bad for Trump is good for America.

The ^ words of a libturd. Surprisingly forthright. But absolutely retarded.

I doubt most property owners did what the Trump Organization did, which was deliberately lie about the value of their properties.

You have no proof of that claim, Bitch.