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Major lender shuts down wholesale division

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Mortgage Professional America | 11 Mar 2014, 07:42 AM Agree 0
A major lender has shut down its wholesale division, but has said it will focus its efforts on correspondents
  • Chris | | 11 Mar 2014, 12:22 PM Agree 0
    As a wholesale broker, it's definitely getting scary out there for us and I feel for all the people that are out of a job because of them exiting---but in saying that....5th 3rd was brutal to work with compared to other lenders out there
  • Herb McGee | | 11 Mar 2014, 12:25 PM Agree 0
    If you can't stand the heat, get out of the kitchen.
  • Georgia Mortgage Guy | | 11 Mar 2014, 12:27 PM Agree 0
    Their process was the worst anyway- I am shocked that stayed in as long as they did- Offshore Underwriting was the worst-
  • Miranda Aikman | | 11 Mar 2014, 05:35 PM Agree 0
    The account reps were invisible, you could never get a hold of anyone that knew anything and I send 90% of my business to Stearns Lending - the Colorado branch. They are the best wholesale lender out there!
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