I dislike BHO as much as any FReeper, but I don’t think this is a big deal. He bargained for a $300 discount on a monthly payment over 10K.
Now if he would have received a 3 or 4% loan, or his income would not qualify for that large mortgage, it would be a different story.
If the math works out correctly as mentioned by Kleebo151 that he saved $108,000 over the life of the loan, that is a large chunk of money that the rest of the people that do business with that lender have to make up.
I sugggest you read the whole story, including the part about Obama's subsequent relationship with the mortgage company.
Geez, another B.O. HUSSEIN apologist? :-(
I agree. The .32 discount is not that big a deal if he was going to open additional accounts with Northern Trust. The waiver of origination fees, and no points paid is really not that big of a deal either. It's interesting that he didn't have a prior banking relationship with Northern Trust when he applied for the loan, though. They had contributed substantially to his campaign.
The big deal is the Rezko connection, all the way near the bottom of the article.