Many of these banking vampires used to operate their businesses on serving consumers a high fee and toxic loan platter to their CEO Overlords for consumption daily. Now, they seem to be bit bummed out on banking lately and having to do business the right way.
CEO’s will not be as fat in the new banking world and their loan officer minions will be fighting for consumer scraps.
NY Times:
Hotels at the San Diego Convention Center are sold out today as lending professionals gather for the Mortgage Bankers Assn. annual convention. But the throngs do not appear happy.
There’s a slightly desperate edge to many of the sessions as lenders and loan servicers ponder how to deal with the fiasco created by loose lending a few years ago during the housing boom.
At 11 a.m. conventioneers had their choices of four specialized sessions, including a meeting focusing on pending legislation and regulation in Washington and the states — what was billed as a “major transformation” for home lenders. Translate: more restrictions and increased government involvement in the business.
Alternatively, attendees could head for a session titled “Doing More With Less Warehouse Funding” –
