If you’re new here, you may want to subscribe to my RSS feed. Thanks for visiting!Temporarily. The midwest lender is “focusing on retail originations” for the time being and has suspended it’s wholesale program. We’re seeing another contraction of the wholesale side lately, with Taylor, Bean and Whitaker severely restricting TPO (third-party originations) and [...]
Hat tip to Tyler. Visit his site.
More consolidation and reduction from Countrywide Wholesale. It makes perfect sense as the company has greatly reduced volume on strict underwriting guidelines from Bank of America and lesser demand. Bank of America earlier in the year outlined their strategy to all but eliminate wholesale lending from their lending plans; [...]
We’ve received multiple reports that Chase Mortgage Wholesale will be shutting down operations within 45 days and will no longer accept applications as of September 30th. Apparently conference calls are happening nationwide to inform employees today.
If you can confirm these reports please email us at tips@blownmortgage.com.
More, of course, as this develops.
Update: Chase isn’t closing wholesale, [...]
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