Funny story: My son wants to buy a first home and he is pre-approved for a 4.5% conventional mortgage loan, yet will finance his purchase with an 8% private loan because it's, get this, CHEAPER !
(with a lot less hassle to boot !)
A bank giving back it's banking charter because it lent to small business and got harassed for it by the regulators:
See article here :
http://online.wsj.com/article/SB10001424053111904480904576498442951766826.html
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