Comments on: what is the risk borrowing home loan from a small and new bank? http://www.secretfinance.com/blog/what-is-the-risk-borrowing-home-loan-from-a-small-and-new-bank/ Mon, 21 May 2012 15:44:15 +0000 http://wordpress.org/?v=2.7 hourly 1 By: wife of marine http://www.secretfinance.com/blog/what-is-the-risk-borrowing-home-loan-from-a-small-and-new-bank/comment-page-1/#comment-882 wife of marine Sat, 07 Feb 2009 07:57:29 +0000 http://www.secretfinance.com/blog/what-is-the-risk-borrowing-home-loan-from-a-small-and-new-bank/#comment-882 FDIC is great and all, but it has almost nothing to do with lending. FDIC means that they have a Federal Deposit Insurance Company protecting your deposits (checking, savings, CDs, IRAs, etc) in the case of the bank going belly up. If the bank ends up getting in trouble, they will sell your loan off to another bank or financial institution for the capital. This can happen in large banks as well as small banks, especially the way the economy is right now. To test this small bank for their federal guidelines, when you walk in next time ask them where they have posted their Community Reinvestment Act public notice. If they look at you like they have to no idea what you are talking about, walk back out the door and don't look back. If they have one, take a seat!! FDIC is great and all, but it has almost nothing to do with lending. FDIC means that they have a Federal Deposit Insurance Company protecting your deposits (checking, savings, CDs, IRAs, etc) in the case of the bank going belly up. If the bank ends up getting in trouble, they will sell your loan off to another bank or financial institution for the capital. This can happen in large banks as well as small banks, especially the way the economy is right now.

To test this small bank for their federal guidelines, when you walk in next time ask them where they have posted their Community Reinvestment Act public notice. If they look at you like they have to no idea what you are talking about, walk back out the door and don’t look back. If they have one, take a seat!!

]]> By: greeter7 http://www.secretfinance.com/blog/what-is-the-risk-borrowing-home-loan-from-a-small-and-new-bank/comment-page-1/#comment-881 greeter7 Thu, 05 Feb 2009 14:26:02 +0000 http://www.secretfinance.com/blog/what-is-the-risk-borrowing-home-loan-from-a-small-and-new-bank/#comment-881 Unless you are borrowing on the i net you should know ALL there is to know about the bank... All banks a member of the FDIC all one must do if you are not in there city go to FDIC.GOV AND CHECK THEM OUT..... or call the banking commission... Unless you are borrowing on the i net you should know ALL there is to know about the bank… All banks a member of the FDIC all one must do if you are not in there city go to FDIC.GOV AND CHECK THEM OUT….. or call the banking commission…

]]> By: Rico http://www.secretfinance.com/blog/what-is-the-risk-borrowing-home-loan-from-a-small-and-new-bank/comment-page-1/#comment-880 Rico Tue, 03 Feb 2009 08:27:57 +0000 http://www.secretfinance.com/blog/what-is-the-risk-borrowing-home-loan-from-a-small-and-new-bank/#comment-880 There is no risk for you, you're the borrower. As long as you get the money at the rate, terms and fees you understand. There is no risk for you, you’re the borrower. As long as you get the money at the rate, terms and fees you understand.

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