JPM and Wells do not use loan brokers, avoiding the wholesale channel. Both have large warehouse lending programs and acquire mortgages from the nonbanks they also finance.
“I think everyone is on board,” said Colgate Selden, a former CFPB attorney and now managing director and head of regulation and compliance at Promontory MortgagePath.
MFA CEO Craig Knutson said he’s pleased the REIT has “gained traction on these new acquisition efforts, which involve relationships cultivated over the past year or more.”