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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Not as easy as you might think Posted by Tom on April 07, 2008 at 7:17 AM In Reply to: Re: Much to do about nothing posted by Antonio on April 04, 2008 at 10:01 AM First, the lender forecloses on a loan not the borrower. Beyond that you missing the point as to limited resources. In general I agree with your comments about acquired companies, but this situation is more like mixing apples and oranges. Banking and mortgage lending are two different industries as the S & L industry learned the very hard way when its industry was deregulated back during the Carter administration. Big mistake. Sure the high interest rates affected it, but the industry raced into a business that they knew nothing about. The moral is stick with what you know. BOA management will teach CW a thing or two about banking. Not so with the mortgage side. BOA has already stated that they will retain CW's # 2 guy (president), so they've already made the decision that he's part of the solution and not the problem. Other than modifying CW's mortgage underwriting business plan, BOA should go slowly. BOA has done several large institution acquisitions, so they go into this with their eyes open and they've probably learned from any mistakes that they've made on previous acquistions. I've seen several financial institution acquistions from an insiders viewpoint, and there's a lot of merging problems that go under the public's radar screen. This could be BOA's biggest challenge in acquisitions so far. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : First, the lender forecloses on a loan not the borrower. Beyond that you missing the point as to limited resources. : In general I agree with your comments about acquired companies, but this situation is more like mixing apples and oranges. Banking and mortgage lending are two different industries as the S & L industry learned the very hard way when its industry was deregulated back during the Carter administration. Big mistake. Sure the high interest rates affected it, but the industry raced into a business that they knew nothing about. The moral is stick with what you know. BOA management will teach CW a thing or two about banking. Not so with the mortgage side. BOA has already stated that they will retain CW's # 2 guy (president), so they've already made the decision that he's part of the solution and not the problem. Other than modifying CW's mortgage underwriting business plan, BOA should go slowly. BOA has done several large institution acquisitions, so they go into this with their eyes open and they've probably learned from any mistakes that they've made on previous acquistions. I've seen several financial institution acquistions from an insiders viewpoint, and there's a lot of merging problems that go under the public's radar screen. This could be BOA's biggest challenge in acquisitions so far. [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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