Without a doubt about Big Banks keep Ebony Hole in Correspondent Lending

Without a doubt about Big Banks keep Ebony Hole in Correspondent Lending

Big Banks Leave Black Hole in Correspondent Lending

Your competitors when it comes to exits is intensifying among big banks that purchase mortgages from correspondent lenders, producing liquidity dilemmas for loan originators and home loan servicing this is certainly radically reshaping.

Citigroup Inc. told correspondent loan providers this so it will no more purchase В« medium or high-risk В» loans that could cause buyback needs from Fannie Mae or Freddie Mac thirty days. That pullback employs giant loan purchasers Bank of America Corp. and Ally Financial Inc. pulled out of the correspondent channel through the last end of 2011, and MetLife Inc. Continue reading “Without a doubt about Big Banks keep Ebony Hole in Correspondent Lending”