Bank of America UPS Hypo Loans

Discussion in 'UPS Discussions' started by Six Sides, May 19, 2010.

  1. Six Sides

    Six Sides Member

    Received a letter today from Bank of America, in reference to my hypo loan. Since Bank of America has acquired Merrill Lynch all UPS hypo loans will we cancelled with an option to have the loan renewed with Merrill Lynch. The problem is Merrill Lynch wants to charge a $1000 facility fee to do the transfer. Their interest rate is good but the startup fee is absurd. Has anyone found any better deals on hypo loans
  2. klein

    klein Für Meno :)

    The Chinese Government owns over 11% of that bank, I believe.
    Not that there is anything wrong with that. Just that some people on here would never support a ccompany that a government has a stake in.
    Example GM.
    Or maybe, it's just American government they don't support ?

    Anyways, good luck with your new loan. Wish you all the best.
  3. Six Sides

    Six Sides Member

    Thanks for the info on Morgan Stanley, I will call them today.
  4. 1989

    1989 Well-Known Member

    A government stake is just fine. (It's called an investment) Government intervention is a whole nother animal. Is the Chinese stake in bonds or equities? Is the Chinese government on the board, or trying to get certain board members elected to the board?
  5. klein

    klein Für Meno :)


    I don't know. They are major shareholders, thats all I know.
    This is what they had in 2007. Who knows how much they own now ?

    As a definitional issue, it is difficult to determine categorically what level of state ownership would qualify an entity to be considered as "state-owned", since governments can also own regular stock, without implying any special interference. As an example, the Chinese Investment Corporation agreed in 2007 to acquire a 9.9% interest in the global investment bank Morgan Stanley, but it is unlikely that this would qualify the latter as a government-owned corporation.
  6. 855UPSHYPO

    855UPSHYPO New Member