Tough Environment Leads to Wholesale Changes at Saxon
Saxon Mortgage is paring down its wholesale unit as part of a plan aimed at keeping the company competitive in a market where it’s become harder for lenders to make a profit. “The extremely competitive pricing and market conditions in 2005 brought new challenges for Saxon,” said company CEO Michael Sawyer. “However, within this environment, our management team remained focused on our core discipline of risk-based pricing, credit and strategic capital deployment.” …