Sean Hannity

[WhatTheBuck 28929]

He was just thinking of the children. 

[wildcat09 29579]

Is there any doubt at this point that he’s a slum lord?

[Grade of D as in David 13255]

He might have given his financial consultant like 10 bucks and said invest in the communities.

[bad_teammate 13523]

Slumlords are just trying to help.

[RDCanecutter 26886]

I don't care if you like Irish people or not, it's fun to say "Bog Hopper".

[Grade of D as in David 13255]

Time for a reboot of "The Super"

[retread 2951]

Edited April 23, 2018 by retread

[Tuco 5093]

1 hour ago, wildcat09 said:

That's not what Hannity said Cohen did for him.

I haven't been able to follow it closely, but it seems unlikely to me that there is a connection between Cohen and the HUD property deals.  If Cohen was the main attorney for Hannity, it seems like that it would certainly constitute more than a casual $10 advice thing that Hannity has represented.  I know, Hannity is a lying piece of shit, and a moron to boot, but it just seems likely a really weird response if Cohen had done any significant work on the deals.  Hannity is dumb, but is he stupid enough to say that Cohen isn't his lawyer if Cohen had done any work on $90M transaction deals?  Real estate advice seems to be literally the least damaging possibility, but it's the answer it took a while for Hannity to land on.   

Maybe Cohen gave him some ancillary advice, but why?  Certainly Hannity would have solid legal representation on deals of that size. And why would Cohen try to hide Hannity's identity, or even be that proactive on protecting the legal communications. 

There is something more here than opportunistic real estate deals with HUD. 

[bad_teammate 13523]

53 minutes ago, RDCanecutter said:

Irish people

But are the Irish actually people?

[David Dennison 19538]

I hope the irony of Sean Hannity using HUD support to expand his real estate portfolio at taxpayer expense isn't lost on those who bemoan the existence of welfare queens.

Rich people need welfare too.

[RDCanecutter 26886]

2 minutes ago, bad_teammate said:

But are the Irish actually people?

It's racist ye are boyo!

[deech 2390]

32 minutes ago, Tuco said:

I haven't been able to follow it closely, but it seems unlikely to me that there is a connection between Cohen and the HUD property deals.  If Cohen was the main attorney for Hannity, it seems like that it would certainly constitute more than a casual $10 advice thing that Hannity has represented.  I know, Hannity is a lying piece of shit, and a moron to boot, but it just seems likely a really weird response if Cohen had done any significant work on the deals.  Hannity is dumb, but is he stupid enough to say that Cohen isn't his lawyer if Cohen had done any work on $90M transaction deals?  Real estate advice seems to be literally the least damaging possibility, but it's the answer it took a while for Hannity to land on.   

Maybe Cohen gave him some ancillary advice, but why?  Certainly Hannity would have solid legal representation on deals of that size. And why would Cohen try to hide Hannity's identity, or even be that proactive on protecting the legal communications. 

There is something more here than opportunistic real estate deals with HUD. 

Cohen and Trump communicated with Hannity regarding how to respond to Mueller's investigation.

[Hugo Stiglitz 23367]

 

[High Plains Drifter 11187]

2 hours ago, David Dennison said:

I hope the irony of Sean Hannity using HUD support to expand his real estate portfolio at taxpayer expense isn't lost on those who bemoan the existence of welfare queens.

Rich people need welfare too.

Hope in one hand, shit in the other...

[wildcat09 29579]

2 hours ago, longhornmatt said:

Yeah, Cohen helping him acquire all the properties doesn’t make sense.  One, the real estate deals started years ago before Trump took over GOP politics.  Second, it would be bizarre for a NYC lawyer to form the LLCs as Georgia companies instead of NY or Delaware.  Third, you wouldn’t get a NY lawyer to be your outside counsel on real estate deals in all these other states.  Fourth, Cohen is a dumb fixer, and Hannity presumably has dealt with real lawyers at some point in his 20 years of being a national tv host and would have used those guys on his $90,000,000 in deals.

I am guessing he engaged Cohen for shadier things.

It's not really out of the ordinary for a lawyer to represent a local client in a real estate transaction concerning property located in another state. However, using a NY wanna-be mob goon lawyer to form Georgia LLCs certainly would be unusual. It's much more likely that Hannity has experienced and legitimate real estate attorneys to handle his acquisitions, and a criminal attorney to handle his crime.

[David Dennison 19538]

Can we get some right wing thoughts on why Sean Hannity welfare is OK but poor people welfare is not OK?

[SKJ 1319]

Is this what ketamine feels like?

No

[deech 2390]

16 minutes ago, David Dennison said:

Can we get some right wing thoughts on why Sean Hannity welfare is OK but poor people welfare is not OK?

Same reason that corporate welfare and tax breaks are ok and tax breaks for the rich are good, but for the middle class and poor - fuck them.  Because the rich will make the world better for all of us.

Edited April 24, 2018 by deech

[David Dennison 19538]

4 minutes ago, deech said:

Same reason that corporate welfare and tax breaks are ok and tax breaks for the rich are good, but for the middle class and poor - fuck them.  Because the rich will make the world better for all of us.

The Republican Party: Helping those who have the means to help themselves.

[deech 2390]

2 minutes ago, David Dennison said:

The Republican Party: Helping those who have the means to help themselves.

Let's be clear, both parties would sell out whomever they need to sell out to make the money flow into their campaign war chests.  The Republicans are just slightly more honest about it.  Well at least they were until they sold the entire country out to a foreign power in the last election and now are complicit in covering it all up.

[bolverk 30323]

Can we get some right wing thoughts on why Sean Hannity welfare is OK but poor people welfare is not OK?

"Because he EARNED it." - old guy from Paperchase

[Tuco 5093]

22 minutes ago, David Dennison said:

Can we get some right wing thoughts on why Sean Hannity welfare is OK but poor people welfare is not OK?

I don't know the specifics of Hannity's deal, but...

If the feds provide some incentives to low cost housing, it increases the number of investors who will play there and the amount of money they are willing to invest.  That increases the options and availability of low cost housing, which helps power people.  In many parts of the country, that is a major issue.  It's great to have the low cost housing assistance available on paper, but the reality is that it's not available for everyone who needs it.  The feds have to sweeten the pot to increase the market. 

Hannity is a piece of shit.  I don't have a problem with him utilizing incentive programs which, in the end, help poor people.  Unfortunately, as with most programs, it's the investor class who frequently gets the influence to tweak these laws to their advantage, without helping poor people.  I won't pretend to know enough about this situation to know how messed up the rules are. 

[Grandioso 2592]

Just now, deech said:

Same reason that corporate welfare lifting BURDENSOME REGULATIONS* and the HIGHEST CORPORATE TAX RATES IN THE WORLD** breaks are ok and the tax breaks for the rich MIDDLE CLASS!*** are good, but for the middle class and for the poor wage earners fuck them HUGE PAY HIKES.****  Because the rich JOB CREATORS!***** will make the world better for all of us.

* Regulations not evaluated for impact on health, safety, consumer rights, or environment.

** Truth of statement not guaranteed

*** Term includes millionaires, hedge fund managers, etc. Your mileage may vary.

**** See, e.g., PA secretary who saved $1.50/week, Twitter.com

***** Job creation not guaranteed

FIFY.

Signed, Paul Ryan

[sheeeit 129]

On 4/23/2018 at 12:30 PM, David Dennison said:

2 hours ago, David Dennison said:

Can we get some right wing thoughts on why Sean Hannity welfare is OK but poor people welfare is not OK?

 

2 hours ago, deech said:

Same reason that corporate welfare and tax breaks are ok and tax breaks for the rich are good, but for the middle class and poor - fuck them.  Because the rich will make the world better for all of us.

 

2 hours ago, David Dennison said:

The Republican Party: Helping those who have the means to help themselves.

I hope the irony of Sean Hannity using HUD support to expand his real estate portfolio at taxpayer expense isn't lost on those who bemoan the existence of welfare queens.

Rich people need welfare too.

Not that any of you care, but the HUD program for multifamily is not, at all, a form of welfare.  The fact that some of you do not even know what you are talking about is kind of funny.  Also funny how the media can slant something and the usuals just eat it up.

The HUD multifamily program is simply a loan program designed for multifamily.  It is not designated to poor areas or underserved areas.  If Hannity used it, then he paid hundreds of thousands in fees to HUD and is paying market interest on the debt.  The fact that people think a program where the borrower pays hundreds of thousands of fees as well as market interest on a loan is welfare is awesome.  If everyone would use this welfare then the US could retire its debt pretty quick because the HUD program is a net financial gain for the tax payers.  

And, Hannity is a tool.

[Brisketexan 106897]

1 minute ago, sheeeit said:

If Hannity used it, then he paid hundreds of thousands in fees to HUD and is paying market interest on the debt. 

Wait.  There's a program where I can get financing to buy real estate, I pay the going interest rate on the financing, AND I pay extra hundreds of thousands in fees?

SIGN ME UP!

Seriously, I don't know much about these programs, but you just described a deal that I would think anyone with rudimentary math skills would run away from.  What is missing in your description?

[sidis 10017]

6 minutes ago, sheeeit said:

And, Hannity is a tool.

why?  what makes you say that?

[sheeeit 129]

1 minute ago, Brisketexan said:

Wait.  There's a program where I can get financing to buy real estate, I pay the going interest rate on the financing, AND I pay extra hundreds of thousands in fees?

SIGN ME UP!

Seriously, I don't know much about these programs, but you just described a deal that I would think anyone with rudimentary math skills would run away from.  What is missing in your description?

Not much, it is a question of risk.  The biggest advantage to the HUD deals (and they are fee heavy) is that they will give you a fixed rate loan with a longer amortization than traditional banks.  HUD will actually do 40 year ams and fix the rate for 25 years.  Traditional lenders will be less expensive up front but will only fix the rate for 10 years or so and usually they will not do an am schedule over 20 years.  With the HUD deal you give up cash up front to lock in todays interest rate.  They are also assumable, but so are most traditional loans.

if you are going to sell the asset in the next 5-7 years then HUD is nott he best option but if you intend to hold it long term, then HUD makes some sense.

[sheeeit 129]

2 minutes ago, sidis said:

why?  what makes you say that?

Well I dont think I have ever seen his TV show and I have heard his radio show a handful of times but it has been a while.  What I remember was that he just repeats his points over and over and is not funny or entertaining.  I think any show/host that is virtually one sided in their approach/view is a tool and that doesnt interest me.

[David Dennison 19538]

4 minutes ago, sheeeit said:

Not much, it is a question of risk.  The biggest advantage to the HUD deals (and they are fee heavy) is that they will give you a fixed rate loan with a longer amortization than traditional banks.  HUD will actually do 40 year ams and fix the rate for 25 years.  Traditional lenders will be less expensive up front but will only fix the rate for 10 years or so and usually they will not do an am schedule over 20 years.  With the HUD deal you give up cash up front to lock in todays interest rate.  They are also assumable, but so are most traditional loans.

if you are going to sell the asset in the next 5-7 years then HUD is nott he best option but if you intend to hold it long term, then HUD makes some sense.

Hating on big government until you benefit from it is so Republican.

[Brisketexan 106897]

11 minutes ago, sheeeit said:

Not much, it is a question of risk.  The biggest advantage to the HUD deals (and they are fee heavy) is that they will give you a fixed rate loan with a longer amortization than traditional banks.  HUD will actually do 40 year ams and fix the rate for 25 years.  Traditional lenders will be less expensive up front but will only fix the rate for 10 years or so and usually they will not do an am schedule over 20 years.  With the HUD deal you give up cash up front to lock in todays interest rate.  They are also assumable, but so are most traditional loans.

if you are going to sell the asset in the next 5-7 years then HUD is nott he best option but if you intend to hold it long term, then HUD makes some sense.

So, the bolded part was a lie.  I'd say that different terms (length) and different periods of fixed vs. ARM rate are, ummm, significant differences from traditional financing.  Which renders THIS description false as well:

Quote

he fact that people think a program where the borrower pays hundreds of thousands of fees as well as market interest on a loan is welfare is awesome. 

He's NOT paying market interest -- not over the life of the loan he ain't.

[fattyflattie 4640]

On 4/23/2018 at 12:29 PM, bad_teammate said:

But are the Irish actually people?

It’s funny racism because they are white, right?  The whole “Irish need not apply” thing probably never set them or their future generation back. LOLOLOLOLOL  

[Pods 7637]

25 minutes ago, Brisketexan said:

Wait.  There's a program where I can get financing to buy real estate, I pay the going interest rate on the financing, AND I pay extra hundreds of thousands in fees?

SIGN ME UP!

Seriously, I don't know much about these programs, but you just described a deal that I would think anyone with rudimentary math skills would run away from.  What is missing in your description?

The truth....

[David Dennison 19538]

5 minutes ago, fattyflattie said:

It’s funny racism because they are white, right?  The whole “Irish need not apply” thing probably never set them or their future generation back. LOLOLOLOLOL  

Racism against white people is hilarious, see: honky.

[sheeeit 129]

2 minutes ago, Brisketexan said:

So, the bolded part was a lie.  I'd say that different terms (length) and different periods of fixed vs. ARM rate are, ummm, significant differences from traditional financing.  Which renders THIS description false as well:

He's NOT paying market interest -- not over the life of the loan he ain't.

You are a strange cat sometimes. 

The terms you can get with HUD you can also get from other non-traditional sources of funding.  Life insurance companies will fund multifamily, there are a ton of private equity groups that fund multifamily and any term is negotiable even in the traditional marketplace.  Multifamily financing is kind of its own thing.  But the terms you can get with HUD you can get other places.  Simply because of HUD's terms, the industry has had to match them.  So, yes, it is market.  

Getting a fixed rate is simply a hedge.  Rates go up and down.  There are penalties for refinancing a HUD loan early in most cases and typically not in traditional loans.

I have no idea why Hannity used HUD, if he even did.  People make decisions on financing for a variety of reasons.  But the HUD loans are expensive upfront and the rates are market.  The whole point is that this is a ridiculous example of people trying to make some idiotic point about tax payer money or welfare.  

[Brisketexan 106897]

3 minutes ago, sheeeit said:

Simply because of HUD's terms, the industry has had to match them.  So, yes, it is market.  

 

35 minutes ago, David Dennison said:

The biggest advantage to the HUD deals (and they are fee heavy) is that they will give you a fixed rate loan with a longer amortization than traditional banks.  HUD will actually do 40 year ams and fix the rate for 25 years.  Traditional lenders will be less expensive up front but will only fix the rate for 10 years or so and usually they will not do an am schedule over 20 years. 

If quote 1 is true, quote 2 is false.

If quote 2 is true, quote 1 is false.

Smooth move.

[Pods 7637]

20 minutes ago, Brisketexan said:

 

If quote 1 is true, quote 2 is false.

If quote 2 is true, quote 1 is false.

Smooth move.

[JimmyJames 12271]

Sheeit is appropriately named since he is often full of sheeit. He’s a republican talking point spouting mouthpiece full of interesting reasons and arguments why you and the country are not really getting scammed, but in fact are actually BENEFITTING from their larceny. 

Also don’t forget about guns, Mexicans and abortion. Those are the real issues you and the middle and lower class should be focused on since they affect you on a daily basis. Let’s keep the focus people. That and the stock market keeps going up and up and up. So crack open a nati light and celebrate for the gains made this decade by the investor class/job creators. Why you aren’t sucking their dick in thanks is frankly puzzling.  

Edited April 24, 2018 by JimmyJames

[sheeeit 129]

6 minutes ago, Brisketexan said:

 

If quote 1 is true, quote 2 is false.

If quote 2 is true, quote 1 is false.

Smooth move.

Seriously?  Is this how you argue as a lawyer?  I hope not.  

The market for financing is not, as you seem to argue/think, made up solely of traditional banks and HUD.  There are a myriad of financing options in multifamily.  There are advantages and disadvantages to all of them.  Collectively, they make up the market.  HUD, by no means, dominates the financing market for multifamily.  You seem to be arguing that HUD offers better than market terms.  If so, why don't they have all the business?  This is just stupid.

You asked a legitimate question about why someone would do a HUD loan that had higher up front fees and a market interest rate.  I tried to explain why someone would go that route.  

What happened to you?

[Brisketexan 106897]

1 minute ago, sheeeit said:

Seriously?  Is this how you argue as a lawyer?  I hope not.  

The market for financing is not, as you seem to argue/think, made up solely of traditional banks and HUD.  There are a myriad of financing options in multifamily.  There are advantages and disadvantages to all of them.  Collectively, they make up the market.  HUD, by no means, dominates the financing market for multifamily.  You seem to be arguing that HUD offers better than market terms.  If so, why don't they have all the business?  This is just stupid.

You asked a legitimate question about why someone would do a HUD loan that had higher up front fees and a market interest rate.  I tried to explain why someone would go that route.  

What happened to you?

It's exactly how I argue as a lawyer.

I win.  A lot.

My percentages get even better when dealing with an opposing witness like you.

I'm not arguing shit -- you are.  I'm just quoting you.  And you got caught in a flat-out contradiction.  Because you lie and bend the truth when it suits your purposes.  You don't like getting caught.  Most liars don't.

[JimmyJames 12271]

Someone up in here is very concerned...

[JimmyJames 12271]

4 minutes ago, sheeeit said:

Seriously?  Is this how you argue as a lawyer?  I hope not.  

The market for financing is not, as you seem to argue/think, made up solely of traditional banks and HUD.  There are a myriad of financing options in multifamily.  There are advantages and disadvantages to all of them.  Collectively, they make up the market.  HUD, by no means, dominates the financing market for multifamily.  You seem to be arguing that HUD offers better than market terms.  If so, why don't they have all the business?  This is just stupid.

You asked a legitimate question about why someone would do a HUD loan that had higher up front fees and a market interest rate.  I tried to explain why someone would go that route.  

What happened to you?

They do it to leach off the government tit dispshit because it suits their nefarious self interest, all the while railing against poor black women on worthless welfare food stamps to rile up the racist tendencies of their audience. The fact that you can’t acknowledge that or argue that isn’t the case certifies you as a grade A moron and/or troll. 

[sheeeit 129]

1 minute ago, Brisketexan said:

It's exactly how I argue as a lawyer.

I win.  A lot.

My percentages get even better when dealing with an opposing witness like you.

I'm not arguing shit -- you are.  I'm just quoting you.  And you got caught in a flat-out contradiction.  Because you lie and bend the truth when it suits your purposes.  You don't like getting caught.  Most liars don't.

No you are being deliberately stupid.  There is no contradiction at all.  You are arguing that the "industry" is ONLY HUD and traditional banks.  It is not.  How is this hard for you to grasp.  I will go slowly again.  HUD has different terms than traditional banks.  HUD does not have different terms from a myriad of other non traditional options for financing multifamily.  HUD is not unique in the "industry" but they are unique from traditional  banking that makes up a portion of the "industry".  All of the non traditional financing sources for multifamily will give you equivalent terms to that of HUD.  Otherwise, they would never get any business.

[sheeeit 129]

8 minutes ago, JimmyJames said:

They do it to leach off the government tit dispshit because it suits their nefarious self interest, all the while railing against poor black women on worthless welfare food stamps to rile up the racist tendencies of their audience. The fact that you can’t acknowledge that or argue that isn’t the case certifies you as a grade A moron and/or troll. 

Lulz.  Is that a Mike Leach.  

Lets just disagree on what leeching is.  I do not think any definition of leeching would include the supposed leecher paying high upfront fees and market based interest but they could have changed the whole dictionary while I was napping.

[Brisketexan 106897]

No you are being deliberately stupid.  There is no contradiction at all.  You are arguing that the "industry" is ONLY HUD and traditional banks.  It is not.  How is this hard for you to grasp.  I will go slowly again.  HUD has different terms than traditional banks.  HUD does not have different terms from a myriad of other non traditional options for financing multifamily.  HUD is not unique in the "industry" but they are unique from traditional  banking that makes up a portion of the "industry".  All of the non traditional financing sources for multifamily will give you equivalent terms to that of HUD.  Otherwise, they would never get any business.

If other lenders will give you “equivalent terms,” how are HUD’s terms not just an advantage, but the “biggest advantage?” How can something I can get the equivalent of somewhere else be my “biggest advantage?”

Are you enjoying this? Because I am.

[David Dennison 19538]

2 minutes ago, sheeeit said:

Lulz.  Is that a Mike Leach.  

Lets just disagree on what leeching is.  I do not think any definition of leeching would include the supposed leecher paying high upfront fees and market based interest but they could have changed the whole dictionary while I was napping.

That's the thing, it's not market based interest. HUD support guarantees that the market for a loan of any kind is broader than it would be without it.

[JimmyJames 12271]

He doesn’t get it, never will and will never care.

Government handouts to job creators/investor class  = sound public policy.

Government handouts to negroes and their like, including the dreaded illegals = undeserved welfare deserving of ultimate scorn. 

It’s that simple. It’s why we don’t have universal health care in this country, unlike every other first world country and including a bunch of shitty countries to boot. The blacks and browns don’t deserve it. 

[David Dennison 19538]

1 minute ago, JimmyJames said:

He doesn’t get it, never will and will never care.

Government handouts to job creators/investor class  = sound public policy.

Government handouts to negroes and their like, including the dreaded illegals = undeserved welfare deserving of ultimate scorn. 

It’s that simple. It’s why we don’t have universal health care in this country, unlike every other first world country and including a bunch of shitty countries to boot. The blacks and browns don’t deserve it. 

We go out of our way in this country to punish people for being poor. It's sad.

[atomheartbevo 90646]

9 minutes ago, David Dennison said:

We go out of our way in this country to punish people for being poor. It's sad.

Isn't that what Christian nations do?

[sheeeit 129]

17 minutes ago, longhornmatt said:

I doubt “non traditional” funding, especially private equity, are talking the same terms as a HUD loan.  I admit I don’t know much about HUD, but does HUD get a 20% preferred kicker, equity stake, clawbacks and management fees, control of the business, etc.?  Are these other options you mention altruistic funding sources concerned more with providing housing than profits?

 

1 minute ago, longhornmatt said:

So, is HUD just a competitor in the market like anyone else?  There is no subsidy or loan forgiveness break for taking on certain projects?  What is the purpose of HUD then?

The things you described above are not relatable to multifamily.  When private equity groups, or wealthy individuals or Life insurance companies get involved in multifamily, they get the same terms as everyone else.  

Yes,  In a deal like what Hannity did, HUD is just a competitor in the market like anyone else.  Everyone has terms that are slightly different and every person looking for funding has different interests.  HUD has many advantages, the biggest is the long term fixed rates.  But the fees are higher than others, they require a mountain of paperwork, they take 12-18 months to close, they restrict owners getting cash back, they have penalties for early prepayment etc.  

There is a separate section of HUD that is for apartments with rent subsidies.  I do not have any hands on experience with those types of projects and, I assume, there are beneficial terms to those deals.

[sheeeit 129]

27 minutes ago, longhornmatt said:

Based on a quick Google, it looks like many HUD loan programs are also non-recourse.

Call me crazy, but it almost seems like HUD is trying to create incentives for housing and urban development with favorable financing terms for projects the market might not otherwise support.  Hmm.  I wonder if they have a mission statement?  I bet it’s not “compete with Wells Fargo and REITS on market terms in the real estate financing market.”

All of the long term non traditional financing options for multifamily are non recourse.  And even in the traditional banking markets (when you do a new project from scratch) the construction loan is interest only and recourse but when you have occupancy and the construction loan goes to permanent, they are non recourse.  But there are very few traditional banks that get long term mortgages on multifamily because they are not as competitive.  Life insurance companies and private money make up the biggest percentage of the market.

Perhaps you guys are getting hung up on what we are talking about.  The HUD programs for multifamily are different than those for single family housing.  But HUD's multifamily program is just another option.  No loan forgiveness.  Nothing.  Just an option.  Same underwriting guidelines.  In fact, tighter guidelines in some regions.

I have been involved in 5 multifamily deals like this in the last 7 years.  I am not sure why you guys are arguing with me.  You can search all of this info on your own.  Anyone of you can put a business plan together for multifamily and find out for yourselves.

There are plenty of better options for financing of these projects.  Especially for a guy with hannity's income/wealth.  Apparently he liked the HUD terms more than the other ones.  Most people do not.