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Big Banks Squish Individual Lenders

Sunday, April 3rd, 2011
Posted in Advice by Joel Gross

The financial crisis which supposedly was going to get regulations through on big banks has done the opposite.  The powerful lobbyists at the big nationwide banks have changed rules so that individual residential lenders now must set their rates up front each month instead of setting it on a per deal basis.  Individual lenders must become certified in each state rather then nationwide like the banks are allowed to do.  Unfortunate.