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Major lender to axe branches as originations fall

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Mortgage Professional America | 18 Jul 2013, 05:00 AM Agree 0
A major lender has announced it will consolidate around 200 retail banking branches amidst lower expected originations
  • Steve Greenberg | | 18 Jul 2013, 09:32 AM Agree 0
    As a professional mortgage trainer and coach I don't find the fact that originations have declined since an increase in rates. Most companies and/or originators are not adequately trained in the art & science of selling. Rates motivate most borrowers - when it should be the selling skills of the originator.
  • JOHN EDWARD | | 18 Jul 2013, 10:08 AM Agree 0
    PNC IS NOT AN AGRESSIVE LENDER AND SHOULD STICK TO ITS BRANCH OPERATIONS AS THEIR OVERLAYS ON ORIGINATIONS WILL PREVENT THEM FROM BEING A FORCE IN AREAS OTHER THAN THEIR BRANCH OPERATIONS.
    THEIR HISTORY SHOWS A PATTERN OF GOING INTO A MARKET AND THEN PULLING OUT.
  • Bruce Forge | | 18 Jul 2013, 10:45 AM Agree 0
    Right about that Steve. Although in 40 years of doing this sort of thing, notice that selling is easier when rates are falling. Same borrowers don't then want to refi again when rates head back up. But, best referral sources for me are the folks I've told not to refi because this would hurt them. Interest is one cost. Time is another, and unfortunately, one not often considered.
  • Bayview Mortgage Inc. | | 18 Jul 2013, 11:49 AM Agree 0
    As soon as the US starts putting funds in governements employee retirement fund(G) fund, after labor day. rates will be back down.the G fund is the short term treasuries. Long term will soon follow once short terms are gobbled up.
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