Digital Risk: These 10 charts fully explain Millennials and home buying

EXCLUSIVE: Morris Schneider Wittstadt officially files for Chapter 11 bankruptcy

Butler & Hosch sale, Dustin Johnson lawsuit severely impacted firm

What to expect when you’re expecting a CFPB administrative action

A deeper look at PHH ruling reveals how the bureau views enforcement
W S

Do home buyers need mortgage brokers?

/ Print / Reprints /
| Share More
/ Text Size+
On Tuesday, Bank of America Corp. exited the wholesale mortgage lending business, limiting its dealings with mortgage brokers to focus on loans made directly to consumers and community banks. Some fear the move will leave fewer options for home buyers as they shop for the most competitive mortgage rates. Essentially, BofA’s decision means that Wells Fargo & Co. is the only major bank that’s willing to buy loans from mortgage brokers. Last year, JP Morgan Chase & Co. said it would no longer purchase loans originated by brokers, noting in an internal memo that loans originated by Chase professionals are less likely to default.

Recent Articles by Jason Philyaw

Comments powered by Disqus