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-   General Boating Discussion (https://www.offshoreonly.com/forums/general-boating-discussion-51/)
-   -   Key Bank Pulls out of Marine and Recreational Lending Altogether (https://www.offshoreonly.com/forums/general-boating-discussion/196093-key-bank-pulls-out-marine-recreational-lending-altogether.html)

fund razor 09-25-2008 08:28 PM
Originally Posted by Skullkrusher (Post 2697619)
If they are still writing loans for another month it should be obvious that they are not calling existing loans.
Yes. But you make me wonder if the rate and terms just changed.

DollaBill 09-25-2008 08:58 PM
they aren't calling in notes. just not taking any new paper

Ratickle 09-25-2008 09:02 PM
Originally Posted by Magicfloat (Post 2697297)
Thanks in part,to Passport Marine:mad:
They got hurt bad by National too.

spilman 09-26-2008 07:52 AM
Originally Posted by Sea-Dated (Post 2697280)
That is not encouraging for those of us that have to finance our toys.

does that mean that my loan with them will be forgiven?:evilb::evilb:
That's where I was going next!! Wish it worked that way....more than likely they will be more stringent now!

Loan Ranger 09-26-2008 08:52 AM
Originally Posted by fund razor (Post 2697671)
Yes. But you make me wonder if the rate and terms just changed.
New rate sheet came out today. Rates and terms are the same, it just says applications must be received by 10/27 and all loans must be funded by 11/14. Also their "auto approval" program that allowed dealers to approve deals without actually submitting them has been discontinued.

fund razor 09-26-2008 09:07 AM
Originally Posted by Loan Ranger (Post 2698077)
New rate sheet came out today. Rates and terms are the same, it just says applications must be received by 10/27 and all loans must be funded by 11/14. Also their "auto approval" program that allowed dealers to approve deals without actually submitting them has been discontinued.
Maybe it is an elaborate scheme to move a bunch of paper (and boats) before the season gets any later and reduce the amount of the repo backlog by forcing people off of the fence?

Cash Bar 09-26-2008 12:42 PM
Worked with you !!!

Now maybe it will kick Dreamer in the nuts. :eek:

fund razor 09-26-2008 02:35 PM
Originally Posted by Cash Bar (Post 2698342)
Worked with you !!!

Now maybe it will kick Dreamer in the nuts. :eek:
I talked to him today. He has something going, but the banks are moving at their own speed.

Cash Bar 09-26-2008 03:24 PM
One notch below that is Ted speed. :party-smiley-004:

Loan Ranger 09-26-2008 03:26 PM
Originally Posted by fund razor (Post 2698092)
Maybe it is an elaborate scheme to move a bunch of paper (and boats) before the season gets any later and reduce the amount of the repo backlog by forcing people off of the fence?
Unfortunately not. All management, sales and credit personnel have already met with HR and been advised of termination.


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