Brokers Voice Frustrations about ‘Whole-Tail’ Lenders: Wholesale Lenders that also have Retail Operations
October 19, 2017
Long-running tension between mortgage brokers and retail lenders with wholesale operations ratcheted up recently as a new group urged brokers to stop working with “whole-tail” lenders. Brokers Rallying Against Whole-tail Lending said it coined the term “whole-tail” lender as “a swipe at lenders that offer both wholesale and retail services on paper, when in reality, their primary business objective is to feed stolen prospect information directly to their affiliate companies.” “It is important that ...