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UCGal
Participant[quote=waterboy]SDCCU is no longer doing Jumbos. I know a lot of people who were doing the 3/1 & 5/1 40yr with amounts over $1MM. Might have finally figured out they had a lot of risk on their plate.[/quote]
wow – you’re right… only loans up to $417k. (I just went and looked.)Actually, as a depositor, I’m a bit relieved.
Participant[quote=waterboy]SDCCU is no longer doing Jumbos. I know a lot of people who were doing the 3/1 & 5/1 40yr with amounts over $1MM. Might have finally figured out they had a lot of risk on their plate.[/quote]
wow – you’re right… only loans up to $417k. (I just went and looked.)Actually, as a depositor, I’m a bit relieved.
September 11, 2009 at 6:43 PM in reply to: My re-fi actually closed… after 5+ months in process #455638ParticipantYikes – that sounds like a nightmare, Dave. I refied about the same time, for the same rate – and it went pretty smooth. But I was dealing with HLS, not BofA.
That’s amazing they didn’t even realize they currently held the loan. Idiots.
September 11, 2009 at 6:43 PM in reply to: My re-fi actually closed… after 5+ months in process #455831ParticipantYikes – that sounds like a nightmare, Dave. I refied about the same time, for the same rate – and it went pretty smooth. But I was dealing with HLS, not BofA.
That’s amazing they didn’t even realize they currently held the loan. Idiots.
September 11, 2009 at 6:43 PM in reply to: My re-fi actually closed… after 5+ months in process #456171ParticipantYikes – that sounds like a nightmare, Dave. I refied about the same time, for the same rate – and it went pretty smooth. But I was dealing with HLS, not BofA.
That’s amazing they didn’t even realize they currently held the loan. Idiots.
September 11, 2009 at 6:43 PM in reply to: My re-fi actually closed… after 5+ months in process #456239ParticipantYikes – that sounds like a nightmare, Dave. I refied about the same time, for the same rate – and it went pretty smooth. But I was dealing with HLS, not BofA.
That’s amazing they didn’t even realize they currently held the loan. Idiots.
September 11, 2009 at 6:43 PM in reply to: My re-fi actually closed… after 5+ months in process #456431ParticipantYikes – that sounds like a nightmare, Dave. I refied about the same time, for the same rate – and it went pretty smooth. But I was dealing with HLS, not BofA.
That’s amazing they didn’t even realize they currently held the loan. Idiots.
September 11, 2009 at 9:01 AM in reply to: Greed + Stupidity = a Wells Fargo senior vice president #455491ParticipantThe article implied that Wells had loaned the previous owners money against their Madaff “assets” as well as the mortgage on their house- their only hard asset, after the Madoff ponzi collapse was their house.
Because the defaulted debts were greater than the balance of the debt on the house, doesn’t mean the house doesn’t get foreclosed.
If nothing else – this VP created a PR nightmare for the bank. It’s one thing to say “occupy the house to protect the asset”. It’s another to have high profile parties in the house with yachts, etc… Bad image for the bank.
September 11, 2009 at 9:01 AM in reply to: Greed + Stupidity = a Wells Fargo senior vice president #455684ParticipantThe article implied that Wells had loaned the previous owners money against their Madaff “assets” as well as the mortgage on their house- their only hard asset, after the Madoff ponzi collapse was their house.
Because the defaulted debts were greater than the balance of the debt on the house, doesn’t mean the house doesn’t get foreclosed.
If nothing else – this VP created a PR nightmare for the bank. It’s one thing to say “occupy the house to protect the asset”. It’s another to have high profile parties in the house with yachts, etc… Bad image for the bank.
September 11, 2009 at 9:01 AM in reply to: Greed + Stupidity = a Wells Fargo senior vice president #456024ParticipantThe article implied that Wells had loaned the previous owners money against their Madaff “assets” as well as the mortgage on their house- their only hard asset, after the Madoff ponzi collapse was their house.
Because the defaulted debts were greater than the balance of the debt on the house, doesn’t mean the house doesn’t get foreclosed.
If nothing else – this VP created a PR nightmare for the bank. It’s one thing to say “occupy the house to protect the asset”. It’s another to have high profile parties in the house with yachts, etc… Bad image for the bank.
September 11, 2009 at 9:01 AM in reply to: Greed + Stupidity = a Wells Fargo senior vice president #456096ParticipantThe article implied that Wells had loaned the previous owners money against their Madaff “assets” as well as the mortgage on their house- their only hard asset, after the Madoff ponzi collapse was their house.
Because the defaulted debts were greater than the balance of the debt on the house, doesn’t mean the house doesn’t get foreclosed.
If nothing else – this VP created a PR nightmare for the bank. It’s one thing to say “occupy the house to protect the asset”. It’s another to have high profile parties in the house with yachts, etc… Bad image for the bank.
September 11, 2009 at 9:01 AM in reply to: Greed + Stupidity = a Wells Fargo senior vice president #456286ParticipantThe article implied that Wells had loaned the previous owners money against their Madaff “assets” as well as the mortgage on their house- their only hard asset, after the Madoff ponzi collapse was their house.
Because the defaulted debts were greater than the balance of the debt on the house, doesn’t mean the house doesn’t get foreclosed.
If nothing else – this VP created a PR nightmare for the bank. It’s one thing to say “occupy the house to protect the asset”. It’s another to have high profile parties in the house with yachts, etc… Bad image for the bank.
September 10, 2009 at 6:39 PM in reply to: Greed + Stupidity = a Wells Fargo senior vice president #455321ParticipantI agree with Allan – WOW. She should definitely be fired.
Can you imagine? You’re a bank employee – an undeniably fabulous house comes across your desk. Not only do you NOT market it even when unsolicited offers are landing on your desk… you move into the house.
Wow!
September 10, 2009 at 6:39 PM in reply to: Greed + Stupidity = a Wells Fargo senior vice president #455515ParticipantI agree with Allan – WOW. She should definitely be fired.
Can you imagine? You’re a bank employee – an undeniably fabulous house comes across your desk. Not only do you NOT market it even when unsolicited offers are landing on your desk… you move into the house.
Wow!
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