Small lenders face onslaught of agency loans returned to sender housingwire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from housingwire.com Daily Mail and Mail on Sunday newspapers.
Nonbank mortgage lenders in September alone slashed some 8,200 jobs. The cutting is hitting bone now, with loan officers’ jobs increasingly on the chopping block.
The financial chaos that sparked the savings and loan crisis of the 1980s, leading to a government bailout, now haunts the independent mortgage banking market this Halloween season and beyond.
U.S. credit unions gained their largest total chunk of the vehicle lending market in the past five years, at more than 25% in the second quarter, by underpricing their rivals. Banks are still ahead, but just barely.