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View Poll Results: New Zealand or Tasmania?
New Zealand 36 80.00%
Tasmania 9 20.00%
Voters: 45. You may not vote on this poll

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Old Today, 01:33 AM
 
2,514 posts, read 3,132,271 times
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Quote:
Originally Posted by Aussiehoff View Post
Unless there has been fraud or dishonesty by the broker, blame for a poor outcome lays with the person applying for debt. The sooner we stop making excuses for peoples poor choices the better.

On Mortgage Brokers, it was very disappointing to see the ALP heavily water down the sensible recommendations of the Royal Commission. The MFAA sure did a good sales job on the future government.
ALP have watered down initial intent, from what I am aware. Things should not be allowed to continue, and the policy on commissions is probably a sensible compromise.


No such thing. Brokers have been less than truthful, even supporting known untrue submissions in order to get loan and therefore commission.


When a commission over rules best policy outcome for client, due to own self interest, regulation needs not to be only tightened by actually enforced.


But not only brokers, the entire banking system was full of rorts and protected by Coalition refusing a Royal commission for years.


The sooner people in position to influence/power stop their shenanigans, lies and deceit, protected by government and people as yourself, the better all will be off.


Meaning of course stop making excuses, for those creating the mayhem by feeding lies and encouraging poor practise.


Most of all stop blaming the (mostly) victims of so said deceit.
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Old Today, 01:37 AM
 
2,514 posts, read 3,132,271 times
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Originally Posted by Joe90 View Post
Foresight can be gained from the hindsight of others, and I would think there would be very few first time buyers who don't have access to the experience/knowledge of family/friends.

The bottom line is that people weigh up risk, and add a dash (or two)of optimism, or pessimism.
That's what banks and brokers were supposed to do in part for their client. In short , if of unstable background, or likelihood of incurring problems, don't loan.


In places the brokers have encouraged 'clients' into 'shady' loans, that was clearly inadvisable and even questioned by loan seeker only to be encouraged to go ahead.
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Old Today, 01:42 AM
 
Location: Various
607 posts, read 286,810 times
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Quote:
Originally Posted by the troubadour View Post
ALP have watered down initial intent, from what I am aware. Things should not be allowed to continue, and the policy on commissions is probably a sensible compromise.


No such thing. Brokers have been less than truthful, even supporting known untrue submissions in order to get loan and therefore commission.


When a commission over rules best policy outcome for client, due to own self interest, regulation needs not to be only tightened by actually enforced.


But not only brokers, the entire banking system was full of rorts and protected by Coalition refusing a Royal commission for years.


The sooner people in position to influence/power stop their shenanigans, lies and deceit, protected by government and people as yourself, the better all will be off.


Meaning of course stop making excuses, for those creating the mayhem by feeding lies and encouraging poor practise.


Most of all stop blaming the (mostly) victims of so said deceit.
Supporting known untrue submissions would be dishonesty and fraud wouldn't it??
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Old Today, 01:50 AM
 
Location: Various
607 posts, read 286,810 times
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Quote:
Originally Posted by the troubadour View Post
That's what banks and brokers were supposed to do in part for their client. In short , if of unstable background, or likelihood of incurring problems, don't loan.


In places the brokers have encouraged 'clients' into 'shady' loans, that was clearly inadvisable and even questioned by loan seeker only to be encouraged to go ahead.

Did you take out a loan you shouldn't have troubadour? Or had a bit of real estate tank?

The odd dodgy broker (who should be prosecuted) is nothing compared to your "progressive" friends like Bill Clinton and Andrew Cuomo when it comes to forcing inappropriate lending standards. Good old Bill was one of the fathers of the GFC with his disastrous policies. Can't even blame fraud or dishonesty there, just terrible policy ensuring those of unstable background and likelihood of incurring problems got access to loans in the name of progressivism.
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Old Today, 05:32 AM
 
2,514 posts, read 3,132,271 times
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Quote:
Originally Posted by Aussiehoff View Post
Did you take out a loan you shouldn't have troubadour? Or had a bit of real estate tank?

The odd dodgy broker (who should be prosecuted) is nothing compared to your "progressive" friends like Bill Clinton and Andrew Cuomo when it comes to forcing inappropriate lending standards. Good old Bill was one of the fathers of the GFC with his disastrous policies. Can't even blame fraud or dishonesty there, just terrible policy ensuring those of unstable background and likelihood of incurring problems got access to loans in the name of progressivism.
The question should be the reason you are unable/unwilling to look at a broader picture and attempt tp personalise every thing. Not an uncommon tactic though.


The 'odd dodgy' broker , which is far from odd, together with the banking system have done great harm to the financial system. Progressives are of course attempting to correct the ever increasingly broken system the neo *******s implemented. A government with head in sand, in denial while the financial system rotted on the branch. Onward with progressives.
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Old Today, 05:35 AM
 
2,514 posts, read 3,132,271 times
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Quote:
Originally Posted by Aussiehoff View Post
Supporting known untrue submissions would be dishonesty and fraud wouldn't it??
It should certainly have resulted in lose of ability to trade in lies and con tricks for the business involved. As for the bankers, they should have , of course been driven through hot coals. Meeting full costs od Commission for starters.
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Old Today, 01:34 PM
 
Location: Top of the South, NZ
16,665 posts, read 13,155,835 times
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Quote:
Originally Posted by the troubadour View Post
That's what banks and brokers were supposed to do in part for their client. In short , if of unstable background, or likelihood of incurring problems, don't loan.


In places the brokers have encouraged 'clients' into 'shady' loans, that was clearly inadvisable and even questioned by loan seeker only to be encouraged to go ahead.
It doesn't seem to be a big problem in NZ, and there doesn't seem to be an associated problem of people unable to insulate houses as a result.

Many still regard home ownership as the safest long term savings there is, and as long as banks and brokers aren't acting illegally/ violating ethic codes, then adults should be able to make adult decisions, for better or worse.
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