417,221
I wrote a list of 90 lenders who laid off / merged/ closed in the past two weeks on my personal site. Lender's One is coop leasing from Walmart. Expect this ends badly. It won't take one deal away from me. Raise your hand if you got a Costco mortgage: silence , no hands, and feet shuffle. Raise your hand if you are willing to take a prequal from this company when everyone is imploding: wait for it ...
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John Juarez
Fremont, CA
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Candice A. Donofrio
Fort Mohave, AZ
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Kathleen Daniels, Prob...
San Jose, CA
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Nina Hollander, Broker
Charlotte, NC
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Anna "Banana" Kruchten
Phoenix, AZ
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Wanda Kubat-Nerdin - W...
St. George, UT
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Fred Griffin Florida R...
Tallahassee, FL
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Gary Frimann, CRS, GRI...
Gilroy, CA
3,587,960
Who even knew Costco had a mortgage program? I've been a Costco fan for many, many years and not once did I consider it a go to lender for clients. Same with any other big box store. I prefer local lenders that I know care about our clients and do their best for them , time after time.
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Karen Climer
Orlando, FL
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Wanda Kubat-Nerdin - W...
St. George, UT
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John Juarez
Fremont, CA
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Kathleen Daniels, Prob...
San Jose, CA
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Fred Griffin Florida R...
Tallahassee, FL
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Nina Hollander, Broker
Charlotte, NC
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Buzz Mackintosh
Frederick, MD
3,125,819
Had no idea Costco even did mortgages, Fred. Will not consider Walmart as a source either!
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Kathleen Daniels, Prob...
San Jose, CA
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John Juarez
Fremont, CA
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Fred Griffin Florida R...
Tallahassee, FL
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Nina Hollander, Broker
Charlotte, NC
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Buzz Mackintosh
Frederick, MD
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Ryan Huggins - Thousan...
Thousand Oaks, CA
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Anna "Banana" Kruchten
Phoenix, AZ
1,556,633
I think it will have zero effect. I also believe with the mortgage companies downsizing, my prediction is these outlets won't last more than a year or two maybe.
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John Juarez
Fremont, CA
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Kathleen Daniels, Prob...
San Jose, CA
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Nina Hollander, Broker
Charlotte, NC
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Anna "Banana" Kruchten
Phoenix, AZ
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Wanda Kubat-Nerdin - W...
St. George, UT
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Fred Griffin Florida R...
Tallahassee, FL
5,216,398
Walmart is good for volume buys of items like ketchup and many items made in China. As for mortgages, I would pass!
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Kathleen Daniels, Prob...
San Jose, CA
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John Juarez
Fremont, CA
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Fred Griffin Florida R...
Tallahassee, FL
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Nina Hollander, Broker
Charlotte, NC
628,764
Never heard of Costco doing mortgages. They probably did more refi's and not known for doing resale loans is the reason most REALTORS would not be aware and the reason it is ending as rates rise.
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John Juarez
Fremont, CA
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Kathleen Daniels, Prob...
San Jose, CA
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Fred Griffin Florida R...
Tallahassee, FL
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Nina Hollander, Broker
Charlotte, NC
1,502,998
Had heard about the mortgage program at Costco in one of their emails, but that was the extent.
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John Juarez
Fremont, CA
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Kathleen Daniels, Prob...
San Jose, CA
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Fred Griffin Florida R...
Tallahassee, FL
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Nina Hollander, Broker
Charlotte, NC
5,104,931
I have no idea, Fred... I've never dealt with a single buyer who got a loan from Costco or Walmart. And I've never sold a home with a mortgage on it that had been financed by either of these organizations.
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John Juarez
Fremont, CA
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Kathleen Daniels, Prob...
San Jose, CA
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Fred Griffin Florida R...
Tallahassee, FL
3,345,091
I do not see any effect on buyers and borrowers, Fred Griffin Florida Real Estate
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John Juarez
Fremont, CA
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Kathleen Daniels, Prob...
San Jose, CA
1,311,397
I have not had a customer who used a Costco mortgage. I did not even know that Costco did mortgages.
Given the comments on this page, it is not hard to see why Costco decided the mortgage business was one in which they no longer had any interest.
I expect that there will be more changes in the mortgage company and real estate brokerage areas.
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Kathleen Daniels, Prob...
San Jose, CA
1,844,291
I remember the Costco perk from some time ago. Just laughed when I saw it was a member benefit. Problem was, it was NO benefit pure & simple.
Just like Sears hooked up with CB all those years ago - didn't work out. Stick to your wheel house.
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John Juarez
Fremont, CA
2,781,173
Costco, Super Walmart and the like want you to be their one-stop shop but it is easier said than done. Theory and application come to mind. NOTE: Their food court takes in a small fortune per year (millions) yet it is not a brand fast food or a destination eating place. Convenience drives this success.
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John Juarez
Fremont, CA
763,883
I only care that my clients get a good loan at a good price with a reliable lender that will perform on time at a fair fee and costs. I have lenders that I trust and refer but that's the extent of my involvement. I do explain the ramifications of not closing on time and potential loss of deposit though.
1,076,551
It wont. Consumers that want to go with the "lowest price" will pay double for piss poor advice from a lender/loan officer that can't do anything but take applications.
It's an example of getting what you pay for, which won't be much!
6,393,404
Not likely to have much effect on lenders, agents, buyers or the industry.