but it is a view from above, that's for sure.
The passing of the buck happens all the time and it is ***the American Way***. It's just sad to me that in this one industry, that affects the financial abilities of so many people, that there is a great deal of ignorance and lack of responsibility from almost all the players - the big corporate lenders who profit, the lenders employee's who turn a blind eye (or don't even know that they are turning a blind eye), the independent agents who appraise, inspect and sign, to the end-user's themselves, the borrowers. It's almost as though each little facet of the process is an independent interest, and not one wants or accepts responsibility for the end result, because they are not required to!
I remember when I eagerly awaited the variable rate on my loan to go away after five years, as the LO promised. When the time came, and my rate varied up (again), I called the lender and got a very legal sounding spiel over the phone, along with the statement "didn't you READ all your loan docs"? IMO, that's where the real problem is, the lack of education among the American Public about money, and I'm one of them.
A great philosophical point about the lack of accountability in this business. |
