Are you working at a non-depository financial institution?
Starting at :38
We will be providing a mechanism for putting non bank financial institutions out of everybody’s misery.
[Is Secretary Geithner smiling?]
There will be death panels enacted by this congress.
But they will be for non-bank financial institutions that will not be considered too big to die.
And I say that because we have this euphemism that we are going to be resolving these institutions. It has not been my experience that when someone says that they are going to resolve something, they kill it. We are talking about dissolution, not resolution.
We are talking about making it unpleasant for the entities…
Note: The underlining emphasis and [commentary] was mine of course.
I don’t know for sure what the future will hold, but it sure seems like the winds of change are starting to blow when it comes to how mortgages are originated.
Hat Tip Rob Chrisman (by far one of the smartest mortgage people I have ever followed) for sharing the video.
Couldn
