In The Broker Business, Nothing is Ever Boring
By Phil Stevenson, CRMP, "Mortgage Nerd" in Miami, Florida and Texas
(PS Mortgage Lending 305-791-4874 or 888-845-6630)
In The Broker Business, Nothing is Ever Boring According to an article publiushed by Mortgage Professional America, "Major Lender Closing Broker Channel," EverBank, is closing its wholesale broker lending channel in order to focus on correspondent and consumer-direct business. The decision will effectively close wholesale lending centers in Dallas, Sacramento and Jacksonville, which will eliminate 150 positions nationwide. Company spokesperson, Michael Cosgrove said: "In recent years – particularly in the wake of the financial crisis – the broker lending business has been in a state of transition. Given the recent rise in interest rates and the resulting dampening effect on refinance activity – coupled with the evolving regulatory burdens specific to the broker business – we’ve decided ...