chase: Will mortgage brokers become extinct?
- 10/17/08 03:00 AM
earlier this year, while it was still in business, Wachovia Bank announced that they, (Wachovia) is exiting the General Bank wholesale mortgage origination channel. This was a shocking follow up from the announcement from Bank America closing its wholesale division of lending through mortgage brokers. Look no further than www.ML-Implode.com; Here you can watch the wreckage in the mortgage lending business tallied for the world to see. Industry guru, Rob Blake wrote asked ... are Mortgage Brokers are an endangered species? He pointed out that If you listen to Mortgage (broker) Industry insiders you will hear whispers that the 'all-powerful' "banking … (12 comments)
earlier this year, while it was still in business, Wachovia Bank announced that they, (Wachovia) is exiting the General Bank wholesale mortgage origination channel.;)
;)
