As I learn more about the subject of “shadow banking”, I recall how it was that I even made myself aware of “shadow banking:.
Recently it seems, banks had gone to the extreme of not even checking borrowers’ income in the application form… More importantly there was no income verification.
To myself, just a regular guy, I thought that to be an example of “incompetence”. But seeing it throughout the media (and elsewhere) on a seemingly daily basis it was nothing new.
But now I understand… Quicken Loans in now the largest lender for homes in the US. Quicken Loans is in the “shadow banking” category. They are not a bank. They do not take deposits to secure their loans.
I know this is wildly impossible, but are the banks, now incapable of rationalizing their home loan activity, offloading the residential home loans to “shadow banks” to cover their trail and to create a whole new area of financial corruption?
Eye on the Ball 
Once upon a time, not so long ago, there was an institution called: savings & loans companies; these largely local enterprises acquired most of their funds from you and me in the local community — we put our savings into these companies; these companies then made loans to local businesses and allowed many to buy homes [like you and me] in the neighborhood and cities of these companies; they operated similar to banks but on a smaller scale; they had to be careful when they made loans and their leverage was largely controlled and limited by the savings people living in their communities placed with them.
Small and local means survival depended upon being personal and helpful in the community. Huge companies lack this local property resulting websites without local contacts and call centers with people that know little and can do even less; access to the management impossible, you are less than a “number” on the computer screen…your words meaningless…there are no consequences for bad behavior of any kind, similar to government, they have immunity — their management eyes are out-of-focus and their management ears are completely deaf. If you see or hear of a solution voice it hear