2008-07-02 — washingtonpost.com
"Shortly after joining the U.S. Senate and while enjoying a surge in income, Barack Obama bought a $1.65 million restored Georgian mansion in an upscale Chicago neighborhood. To finance the purchase, he secured a $1.32 million loan from Northern Trust in Illinois."
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Comments:
nygirl at 01:37 2008-07-03 said:
All this says to me is that some LO made 30bps on this loan. I am sure there are many on these boards who have been "underwater" just to get the deal. PermalinkJohnster at 03:02 2008-07-03 said:
They're saying that less than a three eighths discount in the rate to someone who has TWO MILLION DOLLARS invested in their bank (more than the value of the mortgage) is newsworthy???? I mean, really....WTF?? PermalinkOldsmoboi at 03:04 2008-07-03 said:
Couple with better than average credit rating and 720 months of reserves gets better than average fixed mortgage rate with 20% down. News at 11! PermalinkFenderBenderYSP at 07:34 2008-07-03 said:
Private banks provide special treatment and service to their high-end clients but it's not a freebie. It's quid pro quo. This is relationship banking at its highest level. If a bonus is provided to the bank's client, that bonus will be remembered. That's human nature and a standard of commerce. Quid pro quo. Banking decisions are not made with compassion. Permalinkadd a comment | go to forum thread
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