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Originator, Servicing, Correspondent Products; Why Extensions Cost Money

Posted To: Pipeline Press

The residential lending industry continues to evolve. Lenders are coming and going, moving in and out of business channels. (The latest example being Union Bank, as UBOC is rumored to be in the process of reducing its overall approved broker client base and focusing on deposit relationships). And lenders still report full pipelines but cautiousness in hiring Ops staff. Winter is coming. How many loans do processors process in a month? Or underwriters underwrite? Are there economies of scale at big banks versus independent mortgage banks Here’s a write-up on some stats. Loan officers know that the customer is king, and that there are other measures besides DTI that determine a sound borrower. Goldman Sachs and other major banks are experimenting with alternative metrics to decide whether...(read more)