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#22
03-24-2006, 01:32 PM
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Re: I\'m bored too...ask ScottieK about the banking industry
[ QUOTE ]
[ QUOTE ] [ QUOTE ] ScottieK, I haven't read Gold Sheets in a while. Where are new BBB credits coming to market? [/ QUOTE ] I'm not an investment banker. Quick google search says Australia and Russia, specifically, bonds on the Russian government itself. Daily Reckoning BBB credits ScottieK [/ QUOTE ] Sorry, I was asking about spreads to LIBOR. [/ QUOTE ] Oh. LIBOR + 225 or 250, I think. ScottieK 
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#23
03-24-2006, 01:33 PM
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Re: I\'m bored too...ask ScottieK about the banking industry
[ QUOTE ]
[ QUOTE ] [ QUOTE ] [ QUOTE ] ScottieK, I haven't read Gold Sheets in a while. Where are new BBB credits coming to market? [/ QUOTE ] I'm not an investment banker. Quick google search says Australia and Russia, specifically, bonds on the Russian government itself. Daily Reckoning BBB credits ScottieK [/ QUOTE ] Sorry, I was asking about spreads to LIBOR. [/ QUOTE ] Oh. LIBOR + 225 or 250, I think. ScottieK [/ QUOTE ] thx.
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#24
03-24-2006, 01:46 PM
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Re: I\'m bored too...ask ScottieK about the banking industry
[ QUOTE ]
[ QUOTE ] [ QUOTE ] ScottieK, I haven't read Gold Sheets in a while. Where are new BBB credits coming to market? [/ QUOTE ] I'm not an investment banker. Quick google search says Australia and Russia, specifically, bonds on the Russian government itself. Daily Reckoning BBB credits ScottieK [/ QUOTE ] Sorry, I was asking about spreads to LIBOR. [/ QUOTE ] nerd.
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#25
03-24-2006, 01:50 PM
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Re: I\'m bored too...ask ScottieK about the banking industry
[ QUOTE ]
[ QUOTE ] [ QUOTE ] [ QUOTE ] ScottieK, I haven't read Gold Sheets in a while. Where are new BBB credits coming to market? [/ QUOTE ] I'm not an investment banker. Quick google search says Australia and Russia, specifically, bonds on the Russian government itself. Daily Reckoning BBB credits ScottieK [/ QUOTE ] Sorry, I was asking about spreads to LIBOR. [/ QUOTE ] nerd. [/ QUOTE ] Pot. Kettle. Black.
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#26
03-24-2006, 01:51 PM
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Re: I\'m bored too...ask ScottieK about the banking industry
[ QUOTE ]
My business just got defrauded. Someone produced fraudulent checks, got a scanned copy of an authorized signature, and cashed about 10 checks each for $5000 at a variety of branches (all the same bank) over a three day period. Each check was made out to a different name. Here's the question: Is there any possibility that this wasn't an inside job on the bank side? It seems that they got too many details right to be on the outside, and it also seems that they had set up multiple fraudulent accounts in order to cash the checks. [/ QUOTE ] Yikes. Well, I'm guessing your checks are printed out at the bank. All the accounts are at the same bank, which is also the same bank that prints your checks. They got an authorized signature scan. Setting up the accounts and getting the signature would require system access. Getting access to the check stock may be easy, but printing them would probably also require system access. Who else would be able to do all this except a bank employee? Seems like an inside job to me. Bank employees are tempted all the time...just takes one moment of weakness. What does the bank say? ScottieK
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#27
03-24-2006, 02:01 PM
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Re: I\'m bored too...ask ScottieK about the banking industry
[ QUOTE ]
I'm thinking about buying a house, but I know nothing about getting the financing, points, etc. Any tips? [/ QUOTE ] Well, I'm not a mortgage lender, but I have bought a house and know some mortgage lenders. First thing to do would be to get some mortgage lender recommendations from your homeowning friends. Then I would call these lenders and set up an appointment to see what limit you pre-qualify for. IME, they usually think you can afford more home than you think you can afford. Shop around. Remember, you are OFFERING them your business. Then you can take this spending range, give it to your real estate agent, and start looking for a home. No sense in looking at a $300,000 house if you can only qualify for a $200,000 mortgage. With interest rates where they are, I would suggest getting a fixed-rate mortgage (no points, no origination fees.) If rates drop, you should be able to refinance anyways...but they are almost certain to keep going up. EDIT: throw in no prepayment penalties while you're at it. This should also help: Motley Fool Home Center Also, owning a home instead of renting increases your credit score....and yes, interest payments on a mortgage are tax deductible. Good luck. ScottieK
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#28
03-24-2006, 02:10 PM
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Re: I\'m bored too...ask ScottieK about the banking industry
[ QUOTE ]
Then I would call these lenders and set up an appointment to see what limit you pre-qualify for. IME, they usually think you can afford more home than you think you can afford. Shop around. [/ QUOTE ] Many thanks! I have a follow-up question in regards to some other advice you gave in this thread. When shopping around, won't each place run a credit report on me and possibly ding my credit score in the process? Seems like kind of a Catch-22.
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#29
03-24-2006, 02:14 PM
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Re: I\'m bored too...ask ScottieK about the banking industry
[ QUOTE ]
[ QUOTE ] Then I would call these lenders and set up an appointment to see what limit you pre-qualify for. IME, they usually think you can afford more home than you think you can afford. Shop around. [/ QUOTE ] Many thanks! I have a follow-up question in regards to some other advice you gave in this thread. When shopping around, won't each place run a credit report on me and possibly ding my credit score in the process? Seems like kind of a Catch-22. [/ QUOTE ] They will most likely pull your credit score at your appointment. Be sure to ask them what else you need to bring (tax returns, paycheck stubs, proof of employment, etc.) If you make all your appointments on the same day, your credit report will only reflect one inquiry. Same goes for car shopping. ScottieK
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#30
03-24-2006, 02:16 PM
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Re: I\'m bored too...ask ScottieK about the banking industry
[ QUOTE ]
[ QUOTE ] My business just got defrauded. Someone produced fraudulent checks, got a scanned copy of an authorized signature, and cashed about 10 checks each for $5000 at a variety of branches (all the same bank) over a three day period. Each check was made out to a different name. Here's the question: Is there any possibility that this wasn't an inside job on the bank side? It seems that they got too many details right to be on the outside, and it also seems that they had set up multiple fraudulent accounts in order to cash the checks. [/ QUOTE ] Yikes. Well, I'm guessing your checks are printed out at the bank. All the accounts are at the same bank, which is also the same bank that prints your checks. They got an authorized signature scan. Setting up the accounts and getting the signature would require system access. Getting access to the check stock may be easy, but printing them would probably also require system access. Who else would be able to do all this except a bank employee? Seems like an inside job to me. Bank employees are tempted all the time...just takes one moment of weakness. What does the bank say? ScottieK [/ QUOTE ] I'm not the one dealing with the bank directly. We closed our account, reopened it, and they are obviously replacing the missing/stolen funds. They are not involving us in the investigation (if there is one).
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