To: Hydroshock
“”Banks are not going to want to be in the mortgage business after all this is over,” says Richard Wilkes, a mortgage industry veteran who ran First Nationwide Mortgage “
He is incorrect. Maybe banks who are not doing a good job will choose to not be in the business.
Banks with well run, adequately capitalized mortgage operations will do fine.
The lenders who have been diligent with their underwriting and product offerings are seeing that pay off right now.
8 posted on
08/21/2007 6:58:20 AM PDT by
HereInTheHeartland
(Never bring a knife to a gun fight, or a Democrat to do serious work...)
To: HereInTheHeartland
S&P, Moody’s, etc., are probably more responsible for this mess than banks. These ratings agencies blessed packages of sub prime and sub prime refi’s like they were government bonds.
To: HereInTheHeartland
S&P, Moody’s, etc., are probably more responsible for this mess than banks. These ratings agencies blessed packages of sub prime and sub prime refi’s like they were government bonds.
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