Oct 31, 2008

What the Japanese think about the financial turmoil

Recently on a trip to Japan, I had an opportunity to speak with some Japanese people and asked about their thoughts on the current situation and its impact on the the land of the rising sun. I was with a few friends waiting at our hotel when some suits who were also at the same hotel walked past us and with their little knowledge of English uttered out "sub prime crises" giggled and walked on. This seems to be the lingering thought that the Japanese have in their minds regarding Americans these days!

While the subprime crises is snowballing in to a global financial crises, we at PrivoCorp are seeing more business from customers interested in reducing the turnaround times on their loans in addition to reducing their processing costs. With the end of the crises not yet in sight, loan officers would like to see the quickest turnaround on the loan process through closing and funding.

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