FLMountainMan
White Hispanic
- Joined
- Aug 18, 2006
- Messages
- 13,558
- Reaction score
- 2,080
Kind of obscure, but reading a person's resume today prompted this -
Why don't banks outsource their underwriting departments? Many credit unions do, but it's rare to see banks do it (at least to my limited knowledge). Doesn't the involvement of a third-party reduce their accountability for underwriting bad loans? Or does the SEC or some federal regulation prohibit this?
Why don't banks outsource their underwriting departments? Many credit unions do, but it's rare to see banks do it (at least to my limited knowledge). Doesn't the involvement of a third-party reduce their accountability for underwriting bad loans? Or does the SEC or some federal regulation prohibit this?