(04-06-2024, 08:38 AM)Sneakers Wrote:

(04-06-2024, 08:10 AM)mikesez Wrote: If the risk assessment says the interest rate should be 10%, but the state maximum rate is 6%, the loan is not originated and the subprime ANY lender (CHASE, WELLS FARGO, subprime, etc.) is not able DECLINES to do that business.

LOL.  Have you ever once in your life admitted when you were wrong?  I'm betting on "No".

P.S.  I edited your post to help you better understand how the finance business actually operates.

Nothing I said was wrong.  We are both right.  I am making a point that you're ignoring, though.  Many people consider high interest rates to be immoral and state laws reflect that. This Hankey guy is known as a "subprime lender" and that's not the most precise definition but it definitely means most of his lending activity is at high interest rates

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