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Former CEO of Washington Mutual - Kerry Killinger | PBD Podcast | Ep. 185
PBD Podcast
Nagam Loans - Were They Not Fans of Yours?
East coast banks were not fans of your company. The nagam loan was designed for the affluent, those who had money. It got broken is when it was abused too much and you ended up stopping that product nine months after the crash. When housing prices fall 30 to 40% in some parts of california, river said, it doesn't matter if it's a 30 year advertising one or a standard loans. They all have higher delinquency rates than what you would normally have. Now they're trying to squash out this west coast kind of institutions. That we're basically doing right now isn't good enough.
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