I have banked at Compass since 1987. They are only in the south and southwest - and therefore a prime area for loans to illegals - Texas, New Mexico, Arizona, etc. Asked my branch manager Friday what kind of shape they are really in as far as real estate loans go and he said he was not “within the circle” of those with current knowledge. Some of my clients pay me with checks written on problem banks so I cash those the day I receive them. I think Wells Fargo is still okay. Bought a house 2 years ago. My loan was sold twice before ending up with Countrywide which is now Bank of America. Still haven’t recd anything from BofA yet but continue to receive letters and offers from Countrywide trying to get me to finance my fixed rate 6% loan and take my equity out. Not going to happen. Re the next state out... Seriously considered moving somewhere else but apparently so are a lot of other people which is driving real estate prices right out of the range of possibility in some other countries. I keep wondering what is going to happen to my grandchildren. God help us all. On my knees now more than ever.
I hope wells fargo is ok too. They put in my check on auto deposit. If these banks go broke I am telling them I want cash instead of a check.