WestSideYuppie wrote:How is the financial condition of the lender an issue? They're just processing the loan and then selling it.
they can sell it. Otherwise if Anchor defaults, one gets to deal with the FDIC, which is already breathing down their neck (see the news story I cited above). I think that explains why Anchor is the only one that demands an appraisal, considering all the bad loans they have given out/defaulted on in the past.