Key Bank Pulls out of Marine and Recreational Lending Altogether

Reply Subscribe

Thread Tools

09-25-2008, 08:28 PM

#11

fund razor

Registered

Join Date: Mar 2004

Posts: 8,170

Likes: 0

Received 0 Likes on 0 Posts

Quote:

Originally Posted by Skullkrusher

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.

09-25-2008, 08:58 PM

#12

DollaBill

OSO OG

Gold Member

Join Date: Feb 2004

Location: Blue Martini Hall of Fame

Posts: 7,037

Likes: 1

Received 2 Likes on 2 Posts

they aren't calling in notes. just not taking any new paper

09-25-2008, 09:02 PM

#13

Ratickle

Registered

Join Date: Feb 2006

Location: West Michigan

Posts: 835

Likes: 0

Received 5 Likes on 3 Posts

Quote:

Originally Posted by Magicfloat

Thanks in part,to Passport Marine

They got hurt bad by National too.

09-26-2008, 07:52 AM

#14

spilman

Registered

Join Date: Dec 2003

Location: Raleigh,NC & 1000 Islands,NY

Posts: 1,024

Likes: 0

Received 0 Likes on 0 Posts

Quote:

Originally Posted by Sea-Dated

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?

That's where I was going next!! Wish it worked that way....more than likely they will be more stringent now!

09-26-2008, 08:52 AM

#15

Loan Ranger

Registered

Join Date: Jul 2004

Location: Palm Harbor, FL

Posts: 438

Likes: 0

Received 0 Likes on 0 Posts

Quote:

Originally Posted by fund razor

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.

09-26-2008, 09:07 AM

#16

fund razor

Registered

Join Date: Mar 2004

Posts: 8,170

Likes: 0

Received 0 Likes on 0 Posts

Quote:

Originally Posted by Loan Ranger

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?

09-26-2008, 12:42 PM

#17

Cash Bar

Mod Squad Enforcer

Charter Member

Join Date: Nov 2002

Location: On the way to a PR near you

Posts: 12,958

Likes: 440

Received 795 Likes on 258 Posts

Worked with you !!!

Now maybe it will kick Dreamer in the nuts.

__________________
Your OSO connection to great S. Florida Real Estate.
www.gregsellswaterfront.com

09-26-2008, 02:35 PM

#18

fund razor

Registered

Join Date: Mar 2004

Posts: 8,170

Likes: 0

Received 0 Likes on 0 Posts

Quote:

Originally Posted by Cash Bar

Worked with you !!!

Now maybe it will kick Dreamer in the nuts.

I talked to him today. He has something going, but the banks are moving at their own speed.

09-26-2008, 03:24 PM

#19

Cash Bar

Mod Squad Enforcer

Charter Member

Join Date: Nov 2002

Location: On the way to a PR near you

Posts: 12,958

Likes: 440

Received 795 Likes on 258 Posts

One notch below that is Ted speed.

__________________
Your OSO connection to great S. Florida Real Estate.
www.gregsellswaterfront.com

09-26-2008, 03:26 PM

#20

Loan Ranger

Registered

Join Date: Jul 2004

Location: Palm Harbor, FL

Posts: 438

Likes: 0

Received 0 Likes on 0 Posts

Quote:

Originally Posted by fund razor

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.

Reply Share

First
Prev
2 / 3
Next
Last