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Lafayette Savings Bank Welcomes Mortgage Business

August 31, 2007 – Lafayette Savings Bank, meeting Greater Lafayette’s lending needs since 1869, would like to state that it has money to lend for home mortgage loans.  Lately, a certain segment of the mortgage loan industry has captured media headlines. That segment is the subprime mortgage loan business.  Subprime loans are those that are made to less creditworthy borrowers. Recent headlines infer that mortgage money has all but dried up.

“Nothing could be further from the truth,” states Randolph F. Williams, President/CEO of Lafayette Savings Bank. “We have money to lend to homeowners for new home purchases, existing home purchases and the refinancing of existing loans. While the subprime borrowers could find it difficult to obtain a loan, our typical creditworthy bank borrower still has access to funds to meet all of his or her credit needs.”

Banks rarely are involved in the risky subprime credit market that has hit media headlines. Banks are conservative lenders that are well-capitalized and highly regulated. Banks are not closing their doors or laying off people because of the subprime mortgage problem. Banks are open for business and seeking new customer relationships.

If you have the need to borrow money for a new or existing home or to refinance your current loan, please visit Lafayette Savings Bank. Our loan officers, with local loan approval and local loan servicing, will be pleased to work with you to meet your borrowing needs.

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