26 Sep 2008

Adios WaMu ~ I Want My Old Banks Back!

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So-Cal’s Great Western Saving, Homes Saving and Loan, and American Savings, where are you when we need you?

If you’ve lived in So Cal for a while and you’ve been around pre-Washington Mutual days (and I know there are a lot of you) can remember a variety of other banks. The days before these were gobbled up by Washington Mutual.  At that time I can remember thinking, how could something be so big as Wa-Mu and take all these over?  To my disappointment we lost so many of our favorites before we knew it.

At one time we knew who had fastest processing, who would, or would not, loan on a busy street. I can remember who came out with the first 90% loan at the time. We also knew who we could count on to hold the rates and equally important those who wouldn’t.

You also knew your reps at each institution.  You knew who began a business day early, and another who worked late into almost every evening, while still in his office.  After dark you could look up to the second story window processing center knowing he was there, you could always count on Ernie to come through in a pinch, you just didn’t call him before 10:00 a.m.

Ah, those were the days, … you know the days when loans had to make sense!

As for the future, looks like size doesn’t really matter. As for who’s left standing, REALTORS and lenders alike…guess time will tell.

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About the Author

I maintains an active residential re-sale brokerage in Brea, CA, located in Orange County, about 20 minutes north of Disneyland. Contact Lynda directly at (714) 595-1494, or Lynda@PreferredHomeBrokers.com – CA License #00402040

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