The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: shades who wrote (51435)	4/5/2006 10:27:23 AM
From: John Vosilla	of 306849

"..a story last December from one of my alma maters, Crain's Chicago Business, quoted CEO Robert Glickman as boasting about having never written off a loan in 10 years. He also said the bank wasn't slowing its condo lending and isn't tightening lending standards. To be sure, the size of loans has ballooned. At the same time, loan loss reserves as of the end of the year were at a meager 0.88% of all loans, down from 1.5% in 2003. Glickman told Crain's that accounting rules restrict his ability to add substantially to reserves in the absence of loan delinquencies. Maybe, but if this condo boom ever goes bust, delinquencies will be the least of Corus' problems. " Wow and add in Corus already pays some of the highest rates on CD's in the country..

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