Quote:
Originally Posted by smileyman
Technoligically speaking L.O.s have so much more data to play with they should be able to make a good sound loan. Cash flow analysis software, credit scoring models, regional trend analysis.
What it seems to boil down to is the human element is easily distracted and seduced. Originating for bonuses, doing solids for your frat boys, inter bank rivalries, ego, got coked up and was doing the secretary while I was approving loans...On and on. And internal audit and review gets told to look the other way when the board likes the bottom line.
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If those originating the loan took ownership of the product (in other words, instead of selling it off they owned the relationship) do you think those screwballs would clean up their act?
10-15-2010, 07:02 PM
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