Lenders Spin Internal Reorganizations as Good for Customers, but Bottom Lines are Real Winners
August 18, 2006
Impac, Washington Mutual and CitiMortgage have a good reason for combining their prime and non-prime business units – it can lead to operations that are more profitable. And it is a sign that the correspondent lending channel is evolving beyond the small bank or thrift that correspondents once called their base. Results from a new nationwide survey of correspondent lenders sponsored by Inside Mortgage Finance Publications and conducted by Campbell Communications show that...