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To: Thehammer who wrote (32221)	10/24/2012 2:31:23 AM
From: koan	Read Replies (4) \| Respond to of 85487

You are posting complete nonsense. I have been in real estate for 20 years. Over 90% of all banks fund their loans with one of three agencies: FHA, fannie or freddie. Tiny Mortgage offices, credit unions and even insurance companies sell the loans to customers and the more paper work they have to do the less commissions they get. So Wells Fargo has no more advantage than a mom and pop mortgage company of two people. Residential mortgage and Wells Fargo sell the to the same place. No one uses lawyers for much of anything. In 20 years and over millions in commissions, I have been involved with lawyers exactly once, other than some routine paper work.. And I was clear out in left fled caught in a big sweep. So what in the hell are you talking about below that banks like paper work as they are so big? Do you make this shit up, or go by a playbook? Right now it is so regulated it is very difficult to make loans, especially condos. And down payments and PMI has increased which makes for fewer loans and less commissions.. It has gotten worse since 08. Much worse. So if you have the simple facts of banking and real estate wrong, I doubt you have the complicated aspects of 08 right! What I said was correct! << BTW _ I worked on the securities side at one of the largest banks in the country and one of the largest in mortgage loan origination. I can tell you one thing - the bank side loves REGULATION. Because of their size, and the fact that they have scale and droves of attorneys, they believe it gives them a competitive advantage and will eliminate many of the smaller and mid size banks.