When the seller cashes the check, the bank need to come up with the money. Try starting a bank with some of that "out of thin air" money you're talking about.
You can write me from jail.
S: Rather, they book both the deposit & asset out of thin air when the loan is made,
Nice try at backtracking Todd - you explicitly said "borrower cashes the check". Why are you trying to wiggle out of this by changing the context of your comment? Realize you f'd up?
Look, you've played the prince of fools on far too many threads. I always suspected you were a clueless disruptor, but now I have my proof. Perhaps I should re-post your comment above on the various threads you frequent?
That's right folks, good ole Todd actually used this example above: a borrower attempts to withdraw $500K after a home loan is approved in order to deposit the cash with an escrow officer. Yeah right, great example Toddster. {snicker}