After listening to President Obama’s address tonight to Congress and it spurred me to try and solicit more commentary from some of you in my network on a topic I brought up in one of my most recent posts on the future of banking and lending. Obama talked about the need to create more lending when he said, “the cost of inaction is far greater.”
I usually don’t like sites, blogs, or forums that generate negativity. But I found something recently on a site called, ‘Mortgage Lender Implode Meter’ that I wanted to blog on. (Even though I won’t link the site or the posting here, ha ha.).
The site features a list of ‘imploded’ lenders. To reference one of my recent posts on the future of lending and banking, this list really hit home. Currently there are 335 companies that have gone out of business since late 2006.
I’m sure it hits home with a lot of people in this industry who are out of jobs. I wonder what these people and others feel is the future of the lending industry and how it could evolve? What changes are occurring right now that will set future standards?
I wanted to try and solicit more commentary on this topic from all of you so, please, feel free to share.
Posted by Corey Curwick on February 24, 2009
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