12-12-2010, 02:45 AM
I always figured Hawaii banks saw homes as places to live, while mainland banks saw them as a means to get into speculation. The chickens may be coming home to roost for the mainland "investors" - banks and individuals
My sis was a major player in the lending industry --- Started packing her bags two years before the collapse - they all saw it coming... collusion between the banks, mortgage wholesalers and retailers, agents appraisers and buyers, rampant - could only stretch things so far before it imploded on itself. I remember having dinner with one loan rep who claimed she could get a dead buyer approved - she also used to say she would get on her knees for a loan - nice business ethics all around......
Now my mainland bank (wells and bofa) are offering me liar loans and upping my card limits - even though I do not carry a balance - nor have I had a mortgage - since 1994 - seems they are targeting those folks who do not need the money - and reporting to the gov't that indeed they are pumping cash into the system - will they ever learn?
Lets hope for the best - we aren't out of the woods yet imho. Thank the Hawaiian local banks for having good sense and keeping folks in their homes through all of this - would be my insight
related article: http://www.latimes.com/business/la-fi-le...5264.story
My sis was a major player in the lending industry --- Started packing her bags two years before the collapse - they all saw it coming... collusion between the banks, mortgage wholesalers and retailers, agents appraisers and buyers, rampant - could only stretch things so far before it imploded on itself. I remember having dinner with one loan rep who claimed she could get a dead buyer approved - she also used to say she would get on her knees for a loan - nice business ethics all around......
Now my mainland bank (wells and bofa) are offering me liar loans and upping my card limits - even though I do not carry a balance - nor have I had a mortgage - since 1994 - seems they are targeting those folks who do not need the money - and reporting to the gov't that indeed they are pumping cash into the system - will they ever learn?
Lets hope for the best - we aren't out of the woods yet imho. Thank the Hawaiian local banks for having good sense and keeping folks in their homes through all of this - would be my insight
related article: http://www.latimes.com/business/la-fi-le...5264.story