Database Mining, Closing Cost, RON, AI, DPA Products; Vendor News Heading to Philly
Today, as I head to Chicago (from the Native American word shikaakwa, for the wild onion) on my way to Philadelphia, I received this note. “Rob, why is PenFed exiting from correspondent?” Well, you should talk to your PenFed rep. But if anyone had to make a harsh guess, it would start by asking, “Why would any member-based organization with a branch network and thousands of members, in this environment, feel the need to offer wholesale or correspondent channels to others at very low margins who may be competitors?” There will be plenty of competitors under one roof ...
Source: mortgagenewsdaily.com