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33% say they would buy a mortgage from Wal-Mart


By Call it Crazy   Follow   Mon, 3 Dec 2012, 11:46am PST   862 views   14 comments
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I guess they want their mortgages from China too....

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One in three U.S. consumers would consider a mortgage from retailer Wal-Mart and almost half would consider one from online payment provider PayPal, according to a financial services study to be released on Monday.

The results should be especially disconcerting for banks because the two companies don't even offer mortgages.

The study shows consumers are willing to try alternative lenders as borrowers focus on price, customer service and trust in their provider when selecting a mortgage, said Doug Hautop, lending practice lead at the Carlisle & Gallagher Consulting Group, which conducted the survey.

http://www.nbcnews.com/business/33-say-they-would-buy-mortgage-wal-mart-1C7376581

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Mark D   Mon, 3 Dec 2012, 11:48am PST   Share   Quote   Permalink   Like (3)   Dislike     Comment 1

Call it Crazy says

I guess they want their mortgages from China too

why not? Chinese save more than Americans and they live below their means meaning they are much less likely to default.

Call it Crazy   Mon, 3 Dec 2012, 11:55am PST   Share   Quote   Permalink   Like (1)   Dislike (3)     Comment 2

Mark D says

Call it Crazy says

I guess they want their mortgages from China too

why not? Chinese save more than Americans and they live below their means meaning they are much less likely to default.

What????? Did you read the article????

Mark D   Mon, 3 Dec 2012, 12:08pm PST   Share   Quote   Permalink   Like (1)   Dislike     Comment 3

Call it Crazy says

Mark D says

Call it Crazy says

I guess they want their mortgages from China too

why not? Chinese save more than Americans and they live below their means meaning they are much less likely to default.

What????? Did you read the article????

ok i misread. although i still don't see why Americans wouldn't want to buy mortgages from China when the government is already borrowing from China.

Call it Crazy   Mon, 3 Dec 2012, 12:13pm PST   Share   Quote   Permalink   Like (2)   Dislike (3)     Comment 4

Mark D says

lthough i still don't see why Americans wouldn't want to buy mortgages from China when the government is already borrowing from China.

They could cut out the middle man... China loans money to the U.S., U.S. gives money to the bank, bank loans money to you...

Yea, should just go direct, from China to you, maybe even get a better rate...

kirkm   Mon, 3 Dec 2012, 10:26pm PST   Share   Quote   Permalink   Like   Dislike (1)     Comment 5

This article is apparenty based on 618 responses to an online survey. Really? If like most online polls, take results with a grain of salt.

errc   Mon, 3 Dec 2012, 10:45pm PST   Share   Quote   Permalink   Like   Dislike (2)     Comment 6

Call it Crazy says

Mark D says

lthough i still don't see why Americans wouldn't want to buy mortgages from China when the government is already borrowing from China.

They could cut out the middle man... China loans money to the U.S., U.S. gives money to the bank, bank loans money to you...

Yea, should just go direct, from China to you, maybe even get a better rate...

You seem to have some fundamental misunderstandings of what the flow chart of dollars thru an economy actually works.

Id just as soon "buy my mortgage" from bin laden or kim jung ill, than send the payments off to the facist wells fargo black hole

Jim   Tue, 4 Dec 2012, 12:43am PST   Share   Quote   Permalink   Like (1)   Dislike (1)     Comment 7

This article is apparenty based on 618 responses to an online survey. Really? If like most online polls, take results with a grain of salt.

everything   Tue, 4 Dec 2012, 12:55am PST   Share   Quote   Permalink   Like (2)   Dislike     Comment 8

The only thing this survey tells us is that people don't give a rat's XXX who they get their mortgage through.

Call it Crazy   Tue, 4 Dec 2012, 12:56am PST   Share   Quote   Permalink   Like (1)   Dislike (3)     Comment 9

errc says

Id just as soon "buy my mortgage" from bin laden or kim jung ill, than send the payments off to the facist wells fargo black hole

I don't think you could get a mortgage from them, they're both dead....

chris3637   Tue, 4 Dec 2012, 1:28am PST   Share   Quote   Permalink   Like (3)   Dislike (1)     Comment 10

This article is idiotic. Who cares who the mortgage company is? It's just going to get bundled and sold off. All that matters is the final cost...

Call it Crazy   Tue, 4 Dec 2012, 6:33am PST   Share   Quote   Permalink   Like   Dislike (3)     Comment 11

chris3637 says

This article is idiotic. Who cares who the mortgage company is?

Maybe if they get the mortgage from Walmart, they can put the application fees on their EBT cards......

SunnyvaleCA   Tue, 4 Dec 2012, 8:07am PST   Share   Quote   Permalink   Like   Dislike     Comment 12

chris3637 says

This article is idiotic. Who cares who the mortgage company is? It's just going to get bundled and sold off. All that matters is the final cost...

I think that's the point: customers don't perceive that the conventional mortgage providers add any value, so they would rather take their business elsewhere where they at least get low prices.

Call it Crazy   Tue, 4 Dec 2012, 10:36am PST   Share   Quote   Permalink   Like   Dislike (3)     Comment 13

SunnyvaleCA says

I think that's the point: customers don't perceive that the conventional mortgage providers add any value, so they would rather take their business elsewhere where they at least get low prices.

We Have A Winner!!!!

BoomAndBustCycle   Tue, 4 Dec 2012, 5:09pm PST   Share   Quote   Permalink   Like   Dislike     Comment 14

As long as they have an online payments setup.. and i can manage my payments entirely online reliably. And the costs are lower then the next guy...

Sure, i'd refinance with Wal-Mart!

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