[quote=drboom]We got a better deal from a one branch bank in Atlanta (friend of a friend of a friend kind of thing), so we went with them. One day after making the choice, the Chicago Tribune ran a story that JPMorgan had filed suit against FBOP for defaulting on a $246MM note. This made me feel better about my choice, to say the least. 🙂
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SDNB wouldn’t have held onto your loan – it would have been sold to Fannie/Freddie or someone else in all likelihood. So, SDNB’s performance – or lack thereof – wouldn’t have had any effect on you.
In fact, the bank in Atlanta that underwrote your loan may not still own it. And if it does – and it made you some kind of “friend’s deal” (which I doubt) – then it’s probably a bad deal for them. That is, they probably under-priced the loan. Not that you should care.
