3X + Fees = pain
Measure twice cut once…

When you see the folding of these Jumbo Bank lenders with phenomenal rates are you surprised? The numbers and spreads don't match...too good to be true is too good to be true...If you have a book of business and are a true advocate for your customer selling to dozens of banks is better than representing just one...The M&T-Hudson City Deal: It's the biggest bank merger announced this year, and one of the biggest since the dark days of 2008 (either No. 7 or No. 11, depending on whether you rely on the Journal or the FT, respectively). M&T, based in Buffalo, will pay $3.7 billion in stock for the struggling Hudson City in Paramus, N.J. … And it still feels kind of weird to describe Hudson City as "struggling." Remember, this was the mortgage lender that, after the bubble burst, received widespread praise for having just said no to subprime and stuck to old-timey, fuddy-duddy practices like verifying borrowers' incomes. But mortgage lending entails hazards other than the borrower not paying you back, such as the borrower paying you back sooner than expected, and interest rate risk has bedeviled Hudson City of late(American Banker--subscribe today)

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