After selling insurance I was self employed and struggled to get a home loan in the states. So I did the reasonable thing and went to work for a small loc bank as a teller. They hired me as a loan officer.
I learned that when you walk into a a bank and deposit a 100k you can basically do whatever you want.
Our bank charged 2% above the fed rate and called it our prime rate. Mr. 100k paid the fed rate. Our bank charged loan origination fees, Mr. 100k did not. Our bank had to see and be a first or close second position on every bit of collateral often times way above what was lent out.
We just took Mr. 100k’s word for it. After his deal was paid he took out his 100k and went to the next bank.
We wrecked every small business owner in fees, interest, and busy work. People with great credit scores and no debt we wrecked.