July 23, 2007

Here's the LendingTree mortgage ad at the top of my yahoo home page today. Gee, who do you think this is aimed at?


$425,000 Loan for only $1,367/mo.

No social security number required.

62 comments:

Anonymous said...

Viva la Mexico!

Anonymous said...

So, does this mean you can pay Lending Tree in pesos?

By the way, Americans can't readily buy property in Mexico.

clean sweep said...

These jerks should be run out of town. And Lending Tree should be investigated too.

keith said...

I guess $425,000 wasn't enough. Now my yahoo home page ad says this:

$599,000 Loan for only $1,927/mo. No social security number required.

Damn, that's a lot of money to lend to someone who has no proof of ID

Note to China and hedge funds: You ain't gettin' paid back

Note to IndyMac who buys up this crap - game's over.

Anonymous said...

It's also geared towards someone who doesn't have the most basic math skills.

They won't know that another $1200 is getting tacked on to the back end of the loan and in 2-3 years and when the loan resets it will TRIPLE in rate.

There's an awesome graph floating around that shows subprime mostly resetting in 2007 and 2008 and then Option ARMS resetting in 2009 and 2010. These kind of option arms have about another 18 months of shelf life cause as soon as the options reset, the top end of the mortgage latter will implode just like subprime is now. Then these option arms go bye bye.

BB

Anonymous said...

Wow, sign me up

Anonymous said...

these loans will never get paid back

Anonymous said...

Someone wassaying something about inflation....

NEW YORK (CNNMoney.com) -- As Wal-Mart continues to struggle with soft sales amid a housing slowdown and gas price pressures, the retailer announced Monday that it will cut prices further on 16,000 items this week to spur sales for the back-to-school shopping season.

Wal-Mart (Charts, Fortune 500), the world's largest retailer, said in a statement that it hopes to save families with children 10 to 50 percent on school-related merchandise through its new discounts.

Magon said...

"Gee, who do you think this is aimed at?"
Keith, you are obsessed with Mexican illegals, and it has blinded you to reason and logic.
You seem to think that those illegals are busy on their laptops looking for liar loans in English.
It is to laugh!
No Keith, those ads are aimed at your crooked countrymen.
If the ads were targeting illegals they would be in Spanish on billboards and Telemundo.
Keith, you really should think a bit before you put up such tripe.

Anonymous said...

magon makes a good point, illegals with no SS numbers, aren't exactly your typical yahoo home page demographic

Anonymous said...

Regardless of who they are aimed at this is just stupid!!!!!!! How did this country get so Fu$*#* up in just 6 years. Hell I'm sorry I have been insulting chimps when we have been run by monkeys at best.

Sequoia512

Anonymous said...

Who cares if no one will pay these loans back?

While you are all saving your money like good little boys, I and others are enjoying our lives and living large.

If i can't pay, I just walk away and believe me, they will get payed back, BY YOU!


DOPES!

Anonymous said...

Anonymous said...

Regardless of who they are aimed at this is just stupid!!!!!!! How did this country get so Fu$*#* up in just 6 years. Hell I'm sorry I have been insulting chimps when we have been run by monkeys at best.

Sequoia512

July 23, 2007 12:28 PM

=========

Another dailykos reading mental midget speaks. Tell me oh great one, were there no illegals prior to 2001? Did St Clinton build a fence on the border that Bush then tore down? Did the Democrats build a fence during the 40 years they ran Congress that I missed reading about?

Get your head out of Michael Moore's ass and try thinking for a change.

borkafatty said...

Well time to break out the Tanning Pill's and brush up on my Spanish:

Tanning Pills..Check
Black Hair Dye..Check
Slicking Gel..Check
Rubber Band for Pony Tail..Check
Spanish Vocab..No Abla Englay..Check

Ola Lending Tree

Anonymous said...

So. Do the buyers of the mortgage backed securities get informed exactly how many of their loans they own were made 'sin numero de social security'?

No SSN, no credit rating right?


1. steal somebody's identity
2. apply for huge loans and cash out
3. bail
4. profit!

Apparently, step #1 can be bypassed now .

How the game works said...

1) Lending Tree collects all the fees upfront from the mexicans buying this loan. The illegal mexicans then move 20 people into a house meant for a family of 4. Bunk beds setup in the living room, etc....

2) Lending Tree then quickly sells the loan to some wall street company like Lehman bros.

3) Lehman inserts this loan in a mortgage backed security or CDO with a "toxic waste" rating.

4) MBS and CDO is sold to some pension fund or overseas investor.

5) Lehman prays the loans don't go into default before the grace period is over.

6) Rinse, lather, repeat.

Anonymous said...

Won't there be a problem with the IRS when the IRS gets their yearly 1099-INT from the lender and it doesn't have a SS#?

vegas crash watcher said...

I have only contempt for anyone anti-immigrant; whether the immigrants have their papers blessed by some government functionary is immaterial.
Why can't the peasants see that the nation-state is dying from obsolescence? Borders and national flag-rags are for losers stuck in the last century.

TM said...

"So, does this mean you can pay Lending Tree in pesos?"

----------------------

No, this means that you can pay Lending Tree absolutely nothing.

Frank@NeverColdCall.com said...

Wow, this is practially reverse discrimination against Americans. A citizen without a social security number will be told to go get one first, then come back and apply. And if that SSN reveals a low credit score, they'll be kicked out again.

But if you're illegal and have no ability to get an SSN or credit score, come on in!

What a joke.

stuckinthecity said...

I had asked a very educated female friend of mine, "Who will buy all these condos that are being built in the Chicago Downtown area"? She actually told me that Mexicans will!

stuckinthecity said...

Anonymous said...
Someone wassaying something about inflation....

NEW YORK (CNNMoney.com) -- As Wal-Mart continues to struggle with soft sales amid a housing slowdown and gas price pressures, the retailer announced Monday that it will cut prices further on 16,000 items this week to spur sales for the back-to-school shopping season.

Wal-Mart (Charts, Fortune 500), the world's largest retailer, said in a statement that it hopes to save families with children 10 to 50 percent on school-related merchandise through its new discounts.

July 23, 2007 11:54 AM
--

2 words:

Marketing Ploy.

Anonymous said...

For those of you in love with Barack Obama, here is what he thinks of illegals:

MIAMI BEACH, Fla. — Sen. Barack Obama told the nation's largest Hispanic advocacy group yesterday that he earned their support for his presidential campaign by marching in last year's May 1 immigrant rallies and challenged them to learn whether others met that standard.

"Find out how many senators appeared before an immigration rally last year. Who was talking the talk, and who walked the walk — because I walked," Mr. Obama said at the National Council of La Raza's annual convention in Miami Beach. "I didn't run away from the issue, and I didn't just talk about it in front of Latino audiences."

The Illinois Democrat said the recent Senate immigration debate "was both ugly and racist in a way we haven't see since the struggle for civil rights."

Anonymous said...

""Gee, who do you think this is aimed at?"
Keith, you are obsessed with Mexican illegals, and it has blinded you to reason and logic.
You seem to think that those illegals are busy on their laptops looking for liar loans in English.
It is to laugh!"

Another flaming liberal who wants to justify the illegal invasion.

Hey Magon, why don't you come to So-Cal and see what the invasion of third-world filth has done to L.A. and its schools, you self-righteous bastard!

Anonymous said...

"Who cares if no one will pay these loans back?

While you are all saving your money like good little boys, I and others are enjoying our lives and living large.

If i can't pay, I just walk away and believe me, they will get payed back, BY YOU!


DOPES! "

Why don't you go screw yourself!

Anonymous said...

If liberals want illegals so much, then let them pass a law that requires massive amounts of affordable permanent housing for poor illegals in Marin County, Pacific Heights, Manhattan, Hyannis Port, the Hamptons, Georgetown, etc.

Lets see how much they want them then.

Oh yeah, thats right. They'll go NIMBY on the USA and insist on warehousing them in blue collar and middle class neighborhods.

Dolph said...

How The Game Works...

Hate to break it to you but Lending Tree doesn't loan any money so therefore they cannot sell the loan to anybody. They make fees from referrals. I've seen LT's network and they are small mortgage brokers and folks like IndyMac.

I don't disagree with your assessment, just saying that LT is not loaning the cash out...they just find you somebody who can.

THOSE people will be reselling the loans.

Dolph said...

Actually the liberals aren't the ones wanting the illegals. Seems it's the GOP who wants them more (and I am not a lib, so if you wish to comment back please do not play the liberal game).

Dolph said...

"Another flaming liberal who wants to justify the illegal invasion."

Last time I checked the beacons of the GOP have been the most vocal about looking the other way and pushing for guest workers, amnesty and nonsense like that.

You are fooling yourself if you truly think this is a Liberal problem when both parties are pushing for more.

Anonymous said...

Why don't you go screw yourself!


Gee such witty comments from the socialists, what a surprise.

Anonymous said...

UK water levels reach 60-year highs
By Reuters, July 23, 11:50

Flood waters in parts of England were near 60-year highs on Monday, leaving tens of thousands of people without water and electricity where rivers have broken their banks.

keith said...

And then this news today (thanks frank)...


Valley mortgage firm accused of illegal practices
Catherine Reagor
The Arizona Republic
Jul. 23, 2007 12:00 AM

Regulators are trying to shut down a Phoenix mortgage firm they have accused of securing loans from illegal branches at Valley swap meets, malls, carnicerias, a Wal-Mart, a Home Depot and a couple of Food City stores.

The Arizona Department of Financial Institutions has filed a complaint against Pacific Gold Mortgage Group and its owner, Alejandro Assam.

The complaint also alleges the firm misled at least 134 borrowers about interest rates and fees on loans.

Assam couldn't be reached for comment.

A hearing to determine whether the firm will lose its license and possibly pay a fine has been set for Aug. 15.

Arizona now ranks No. 7 among states with the greatest amount of mortgage fraud, blowing past the 23rd spot it held in 2006.

This is the highest Arizona has placed on the Mortgage Asset Research Institute's annual fraud survey.


http://www.azcentral.com/business/articles/0723mortgage0723.html

Anonymous said...

Dolph said...
"Another flaming liberal who wants to justify the illegal invasion."

Last time I checked the beacons of the GOP have been the most vocal about looking the other way and pushing for guest workers, amnesty and nonsense like that.

You are fooling yourself if you truly think this is a Liberal problem when both parties are pushing for more.

July 23, 2007 4:57 PM


Another liberal fool speaks. Look at the amnesty bill and who voted for it. About 85% of Dems voted FOR AMNESTY including Hillary, Obama, Kennedy, Kerry and the rest. About 70% of GOP voted AGAINST AMNESTY.

If you think 85% for is the same as 70% against, you are very stupid.

Anonymous said...

A good way to make Lending Tree and other companies like CoutryWide to pay back is to click on their ads at least one time in a day. Everytime you click on the ad they have to give some money to service it is advertised on such as Yahoo, Google, MSN etc... Maybe this will teach them not to put ads.

Anonymous said...

I work at a major bank, and even though my division is very much unrelated to mortgage, we share the same floor. Anyway, it was great this morning to hear the mortgage folk freaking out about mortgage rates increasing even though the 10 year treasury yield has been dropping recently. One guy was talking about calling somebody to yell at them about not being able to do his job with these "ridiculous" rates.

L O V E I T ! ! !

Anonymous said...

"If i can't pay, I just walk away and believe me, they will get payed back, BY YOU!


DOPES! "

It is "paid" not "payed" assclown.

Smug Bastard

Anonymous said...

Only a few GOP congressmen and Bush want amnesty while nearly all Democrat congressmen voted in favor. The Democrats who voted against the amnesty bill did so because they thought it was too harsh on illegal immigrants. They even voted down an amendment by John Cornyn to require that all illigal immigrant gang members and felons be deported. The liberals are insane on this issue.

I have no problem with legal immigrants, but oppose illegal immigration. I have no problem with diversity, being a non-white myself, but I do not think that diversity is having decent neighborhoods overrun by filthy illiterate third world criminals just so businesses can squeeze out a few extra dollars in profits.

Anonymous said...

Anon above wrote: "One guy was talking about calling somebody to yell at them about not being able to do his job with these "ridiculous" rates.

L O V E I T ! ! ! "

Amen to that. From an historical standpoint, mortgage rates are still more than cheap. The firt mortgage I ever made to buy a brick and mortar house was written at 10% for 30 years and I was getting a deal at the time. Talk to some older people and you'll hear stories of 15% mortgage rates, etc. These people who are pissing and moaning over 6 and an eighth or 6 and a half on 30 years are too accustomed to the artificial and orchestrated cheap rates we've seen over the past ten years.

Anonymous said...

OK, Either way you spell it "PAID"
will be by you and everyone else that didn't take advantage of the easy money.
While you and your renting buddies were scrimping and saving your pennies playing video games, I was living it up in a million dollar condo, living the life, and banging chicks.

And you know what the best part is, YOU ARE GONNA PAY FOR IT!!!!!!

HAHAHAHAHAHAHA!

DOPES!

how's that World of Warcraft character going!?

Anonymous said...

"Another liberal fool speaks. Look at the amnesty bill and who voted for it. About 85% of Dems voted FOR AMNESTY including Hillary, Obama, Kennedy, Kerry and the rest. About 70% of GOP voted AGAINST AMNESTY. "

This is true with the rank and file of the gop, blue collar dems and independents on the immigration issue.

The GOP leadership, especially Bush, is for amnesty, massive h1-b increases and SPP. How they are the leadership still makes me wonder. Oh, don't forget Trent Lott is for amnesty too.

RayNLA said...

Kieth,

I know a more than a few illegals. They tell me all the time that they can get an SS card and Birth Certificate faster than I can renew my drivers licence. So think a little deeper my friend. This advertisements purpose is to gain market share from INDYMAC.

Alt-A anyone?


RayNLA

Anonymous said...

6:05 that is the post of the day.

Anonymous said...

"OK, Either way you spell it "PAID"
will be by you and everyone else that didn't take advantage of the easy money.
While you and your renting buddies were scrimping and saving your pennies playing video games, I was living it up in a million dollar condo, living the life, and banging chicks.

And you know what the best part is, YOU ARE GONNA PAY FOR IT!!!!!!

HAHAHAHAHAHAHA!

DOPES!

how's that World of Warcraft character going!? "

Million dollar condo? Banging chicks? Really? Is that condo valuation you've floated in monopoly money? Are those real or inflatable women doing the banging?

Also, Junior, what in the wide, wide world of sports is "World of Warcraft"?

Anonymous said...

PAID - Might that million dollar condo be in Miami and valued in terms of 2005 "money"?

Anonymous said...

For "PAID" spelled "PAYED"

ST. LOUIS (Reuters) -- Poor underwriting and investment decisions in subprime mortgage markets have led to the losses that are now even-handedly punishing lenders and investors, St. Louis Federal Reserve Bank President William Poole said Friday. "I believe we should conclude that this year's markets punished mostly bad actors and/or poor lending practices," Poole said in remarks prepared for delivery to a real estate group.
Money magazine's Stephen Gandel updates the state of the mortgage industry. "As is often the case, the market's punishment of unsound financial arrangements has been swift, harsh and without prejudice," he said.

The only people who are going to PAY for this are those who participated in the scheme all sides of this little credit pyramid, borrowers who PAID too much for their MILLION DOLLAR CONDO'S because of psycho mortgage terms (sound familiar?), the lenders who granted the idiot mortgages in the first place, and the "investors" who bought the CDO's. Assclown.

Anonymous said...

From "PAID" - "I was living it up in a million dollar condo, living the life, and banging chicks."

Reader, please note that this is stated in the PAST tense.


Happy trails, Junior.

Anonymous said...

dude has a point...you rented during the boom and got nothing to show for it...he lived it up with borrowed money, will foreclose and also have nothing....at least he had a few years of the good life on someone else's dime

Anonymous said...

6:58 PM Exactly what I am saying...

Remember that Billionaire who was actually 3 Billion in debt?

He died on his yacht in the Mediterranean.

So, how were you spending the last few years, RENTERS!?

Anonymous said...

"dude has a point...you rented during the boom and got nothing to show for it..." ...

That is a "live for the moment" statement if ever there was one. Feels good, but it can be dangerous. That is an attitude only the young can afford.

So, you are certain that having rented a place for the past few years, I (and possibly others) have "nothing to show for it"? Please correct me if I'm misreading your post.

Anonymous said...

"...at least he had a few years of the good life on someone else's dime..."

"...On someone else's dime..."

That's very cute. Doesn't that statement speak volumes?

Anonymous said...

GOP Greedy old party

Anonymous said...

Hey, what's Warcraft? is that where the troll lives?

Magon said...

Anymouse 4:28

You're funny too.
I'm laughing at you.

turdly said...

just a bit of truth on this one;

Lending Tree does indeed do THOUSANDS of loans a month through their lending division.

The title of the web ad is designed to deceive; They do not require you DIVULGE your SS# during the initial loan inquiry, thus, NO SS# NEEDED. Hey, they made YOU look.

BofA pulled this crap a couple of months ago. Some people have ITTN's instead of ss#. They pay ss but are here as guest workers and such.

Anonymous said...

the worst place in the world to go for a loan is lending tree. they hit your electronic credit record with about 20 or so hits everytime you ask them for a loan. they drive your score down just on this action alone. and their rates are that good either.

oh come on keith, the wetbacks can easily float a $425,000 loan to purchase a mcmansion in a neighborhood next to you. of course the loan document will have 20 or so names on it, all made up of course. no ss numbers required. and , after the house is bought, about 50 people will move in the mcmansion. and then about 100 old cars will start being parked in the street and the front yard. then loud mexican music will be heard especially on hump days and weekends when the boys drink some miller high life. sometimes these guys have to work on their old wrecks so the driveway will soon have oil spots all over it and the yard will be cluttered with junk...then of course to make it just like jolly old mexico, they will go out and get some chickens and some goats and let them roam around the neighbhorhood loose....yes, its nice to live in azatland, isn't it?

cobra2411 said...

I saw an ad for lending tree...

"Fall in love with you're house again... Get a home equity loan..."

I spit soda out of my nose...

bitterrenter4life said...

Keith: You need to start the HP Hedge Fund.
Buys and sells Put options on IMB and all the other slime out there. Heck theres a scottrade office down the street, I might have to take a little money out a maturing CD (5.25%) and go play.

benevolentstranger.blogspot.com said...

HAHAHA I'm surprised this isn't sponsored by bank of america!

Dolph said...

Uhhh, I am not a liberal. Do you want to debate or are you going to be foolish?

I made my point. If you don't accept it, fine.

I voted for the GOP in all elections except 2000 and 2004. I voted for the libertarians in both of those contests.

Bush is not a conservative.

Anonymous said...

Uh, if you think an SSN is required to get a credit score, you're most mistaken.

The credit bureaus in this country keep scores without SS numbers easily -- just like they do in other countries like the UK which don't have SS numbers.

Incidentally, the SS number was not supposed to be used as an ID number -- the government promised it wouldn't be. But here we are, complaining that we cannot demand someone provide his Comrade's Identification Number to the corporate state.

*sigh*

Anonymous said...

bitterrenter4life,

The penniless fools here couldn't buy into such a hedge fund, dude. Those are only open to sophisticated investors (by law).

Anonymous said...

just like they do in other countries like the UK which don't have SS numbers

we don't have SS numbers in the UK: we have NI numbers and you can't get your credit checked without one although this means you can open a bank account more easily because they just skip the credit check part of the process if you smile nicely. same difference innit?