Posted by John on June 07, 2000 at 22:36:56:
FNAC is a top notch organization. The line is very effective for getting a note off the street until you can purchase it outright with your own funds or place it elsewhere profitably. The Associates are also top notch, but I think FNAC got in there first and are better known. Be sure you are using warehouse money short term, IMHO, and not for long term holding. The banks got in trouble 10 years ago, and we all bailed them out, because they borrowed short and lent long, then got surprised when the markets moved against them. That’s what you do with a warehouse line: borrow short and lend long. It’s a great tool when used appropriately.