On Thu, Oct 21, 2010 at 12:02 PM, John Williams <jwilliams4...@gmail.com>wrote: > > > To me, it sounds like they are incompetent (although in their defense, > all of the loan securitizations have made the situation complicated). > But since you want to modify an agreement in your favor, you more or > less need to jump through their hoops, even if they are ridiculous.
So, you think that violations of TiLA and RESPA are properly described as "incompetence?" How about civil liability for negligence instead? I can see describing their failure to know the value of the CDSs, etc., gross incompetence - I see that as a market failure that should have been prevented via regulation (or, more correctly, enabled via deregulation). But not following the cornerstone regulations for real estate transactions? That's not just incompetence. Meanwhile, today, I'm taking a break from running an orbital floor sander that I'm using to refinish the floor in one of the rooms of this house that some people say I should walk away from. We continue to make improvements. And yes, by the way, we're having a tough time financially right now. I was laid off from LiveWorld a couple of years ago and I've been building up consulting and developing some new analytics tools, but it's hard. And we have a daughter who moved back in full-time and four grandkids with us half time. Nick
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