The lenders did their own appraisals and wanted to loan him more money, so he didn't circumvent anything.
Which lenders did their own appraisals?
Deutsche Bank testified that the bank's decision-making on loans worth hundreds of millions of dollars relied on the financial statements submitted by Trump. Deutsche Bank also did not conduct their own appraisals or have independent appraisals of Trump's properties.
A bank-ordered appraisal for 40 Wall Street valued the property at $220 million in 2012, but Trump's financial statements valued it at over $527 million. See below:
40 Wall Street, New York, NY
The Trump Organization owns a ground lease at 40 Wall Street, meaning it holds a
leasehold interest in the land and buildings on the land but pays rent to the owner. The
Trump Organization received a bank-ordered appraisal for the commercial property at
40 Wall Street that calculated a value for the property of $220 million as of November 1,
2012. Yet in the statement that year and the next year (2013), 40 Wall Street was
valued at $527 million and $530 million — more than twice the value calculated by the
independent, professional appraisers. Even more egregiously, those increased
valuations were attributed to information obtained from the same professional appraiser
who valued the building at just over $200 million.
https://ag.ny.gov/sites/default/files/tto_release_properties_addendum_-_final.pdf#:~:text=The%20Trump%20Organization%20owns%20a%20ground%20lease,value%20calculated%20by%20the%20independent%2C%20professional%20appraisers.