Canadian Imperial Bank of Commerce T.CM

You may want to short this company.

[ragingbull1327]

We have our mortgage with CIBC, purchased our house in 2010 for $185,000 with a mortgage of $174,000. The house just got appraised at $618,000. That's positive equity of..... $444,000. Have held the mortgage with CIBC the entire time, and NEVER MISSED A PAYMENT. Now, we ask for a Home Equity line of credit to PAY OFF DEBTS AND RENOVATE OUR HOUSE. They REFUSE TO ISSUE A LOAN BECAUSE OF......wait for it..... ONE $4000 RBC DEBT SITTING IN COLLECTIONS, because RBC effed up. Yup. Four. Thousand. Dollars. Now, I'm no actuarial sciences major, but this ain't good for the economy, or your bank. We are now just waiting for our current mortgage term to expire. I'm sure that your stock will absorb losing us. Your company's reputation will not.

[ragingbull1327]

If you've got a credit rating above 700, < $5000 debt, and $444,000 in positive equity and get denied for $25,000 refinancing, there is a fkn problem. $5000="" debt,="" and="" $444,000="" in="" positive="" equity="" and="" get="" denied="" for="" $25,000="" refinancing

[ragingbull1327]

I'm not saying that your stock price goes down. I'm saying that your company and its banking system are completely broken. I'm shorting the entire economy. We thought kitchen renovators would be making $20,000. We thought the bank would be earning interest off of it. Now, nothing. Again. CIBC is killing the Canadian economy. We are no longer willing to stay partnered. Thought someone

[ragingbull1327]

"Make your ambition a reality" couldn't be a worse mission statement for this outfit. They're a disaster

[fakmiz]

Why are you blaming CIBC for declining the loan. You are the author of your own misfortune. You have a $4,000 collection from the Royal Bank which is a clear indication that you don't pay your bills. That is the worse type of collection you could have, one from a Bank.  So stop your rant and put the blame squarely where it belongs, on your shoulders.

[DeanEdmonton]

Well said. Far from shorting CIBC, I think it proves they  are a good bank. I would not invest in a Bank that lends to low lifes that don't pay their bills.

[sorrenson]

In 1995 I was flying overseas for 3 months at a time. Somebody wrote me a check that bounced in my RBC account. Some POS employee listed it as a bad debt because I didn't cover the overdraft as I didn't know about it upon my return to country the Royal Bank manager wrote me a letter clearly and unequivocally stating it was a bank error and at no time did I have dead against the bank. It