Trent Franks roundup

  • Franks co-introduces bill to extend Patriot Act provisions (roving wiretaps, library patron info) for 10 years. [The Hill]
  • Calls Arpaio investigation “just another witch hunt by the liberals on the House Judiciary Committee”. [AzCentral]
  • On Obama’s recent lifting of embyonic stem cell restrictions: “The decision is grounded purely in partisan politics, since all the remarkable advances in stem cell research have used methods that did not require the destruction of human embryos” [YourWestValley.com]
  • On the link between Mexican drug cartels and Middle East terrorism: “When you have…gangs and they have loose ties with al Qaeda and then you have Iran not too far away from building a nuclear capability, nuclear terrorism may not be far off.” [The Hill]
  • On “Homes Act”: “The mortgage cram-down proposal punishes the 90% of American homeowners who made the choice to live within their means, and would offer a get-out-of-jail-free card even to those who used fraudulent information to obtain their mortgages in the first place.” [house.gov]

Posted by Stacy on March 12th, 2009 at 7:51 pm
Filed under: CD2 Trent Franks  |  You can skip to the end and leave a response. Pinging is currently not allowed.

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3 Comments

  1. 1
    Mercurious Says:

    Franks co-introduces bill to extend Patriot Act provisions (roving wiretaps, library patron info) for 10 years.

    You mean the unconstitutional Patriot Act that allows warrentless wire taps that spies American citizens?

    Calls Arpaio investigation “just another witch hunt by the liberals on the House Judiciary Committee”

    Silly civil rights, who needs them? I want to see Arpaio in a pink jumper.

    On Obama’s recent lifting of embyonic stem cell restrictions: “The decision is grounded purely in partisan politics, since all the remarkable advances in stem cell research have used methods that did not require the destruction of human embryos”

    No it’s on sound science, something that is anathema to most Republicans. The conccesous among the researchers who actually you know, do the real work, agree that embryonic stem cells should be used also.

    On the link between Mexican drug cartels and Middle East terrorism: “When you have…gangs and they have loose ties with al Qaeda and then you have Iran not too far away from building a nuclear capability, nuclear terrorism may not be far off.

    On “Homes Act”: “The mortgage cram-down proposal punishes the 90% of American homeowners who made the choice to live within their means, and would offer a get-out-of-jail-free card even to those who used fraudulent information to obtain their mortgages in the first place.

    Sigh. “It’s all those irresponsible home buyers fault!”

    FBI warns of mortgage fraud ‘epidemic in 2004

    From the FBI website report from fiscal year 2007

    A significant portion of the mortgage industry is void of any mandatory fraud reporting. In addition, as initial mortgage products are repackaged and sold on secondary markets, the sale of the mortgages in many cases conceal or distort the fraud, causing it not to be reported. Therefore, the true level of mortgage fraud is largely unknown. However, based on various industry reports and FBI analysis, mortgage fraud is pervasive and growing. For example, SARs(Suspicious Activity Reports) in Fiscal Year 2005 were over 35,000; Fiscal Year 2006 were over 46,000; and the 1st Quarter of Fiscal Year 2007 were 14,916, which extrapolates to 60,000 SARs.

    The defrauding of mortgage lenders should not be compared to predatory lending practices that primarily affect borrowers. Predatory lending typically effects senior citizens, lower income, and challenged credit borrowers. Predatory lending forces borrowers to pay exorbitant loan origination/settlement fees, subprime or higher interest rates, and in some cases, unreasonable service fees. These practices often result in the borrower defaulting on his mortgage payment and undergoing foreclosure or forced refinancing.

    Although there are many mortgage fraud schemes, the FBI is focusing its efforts on those perpetrated by industry insiders. The FBI is engaged with the mortgage industry primarily in identifying fraud trends and educating the public. Some of the current rising mortgage fraud trends include: equity skimming, property flipping, and mortgage related identity theft. Equity skimming is a tried and true method of committing mortgage fraud. Today’s common equity skimming schemes involve the use of corporate shell companies, corporate identity theft, and the use or threat of bankruptcy/foreclosure to dupe homeowners and investors. Property flipping is nothing new; however, once again law enforcement is faced with an educated criminal element that is using identity theft, straw borrowers, shell companies, along with industry insiders, to conceal their methods and override lender controls.

    Guess what Trent, it was the subprime lenders who were committing the fraud.

    Posted on March 13th, 2009 at 3:50 am
  2. 2
    William Crum Says:

    Franks do not care about individuals in his district, just corporations. Term limitations and anyone with eight years needs to go. Bye, bye.

    Posted on April 29th, 2009 at 1:34 pm
  3. 3
    George Says:

    We must clear out the nuts that embarass us daily. If anyone has any poop on Franks, email me. Write poop on subject line. With all our effort we can send this guy on his way. Thanks.

    Posted on February 6th, 2010 at 3:21 pm
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