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Canadian lender sets sights on American originator business

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Mortgage Professional America | 04 Nov 2015, 06:30 AM Agree 0
Originators, prepare for even more competition when it comes to jumbo mortgages, as a new competitor from north of the border has entered the fray
  • Jeff in So Cal | | 04 Nov 2015, 02:15 PM Agree 0
    Last time they tried this they took way too long to underwrite and did not understand individual markets like Los Angeles. They cut value on a custom property by $250k in Hollywood Hills 5 minutes from Sunset and La Cienega calling it rural. Imagine trying to buy a 2000 sq ft home on a 8000 sq ft lot for less than $500K in the Hollywood Hills.
  • John in Ohio | | 04 Nov 2015, 04:58 PM Agree 0
    I hope they can explain the disparate impact they are creating for fair lending by focusing on strictly higher price areas and Jumbo mortgages. Several other banks weren't very successful with that and ended up settling with CFPB for millions in fines...
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