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June 16, 2017

What We’re Hearing: What’s Movement’s Owner Going to Do with a Bank? / A Portfolio? / Just Don’t Pull a Countrywide / Bruce Berkowitz Plans to Ride it Out / Castle & Cooke, Mid America and PRMG All in a Hiring Mode

By Paul Muolo

The betting is that Bruce Berkowitz and Fairholme plan to ride out their GSE investment to the very end.

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Poll

Who "owns" the mortgage customer that’s brought to a wholesale lender through a loan broker?

The broker. It’s his/her client.

35%

The wholesale/table funder. They’re taking the financial risk.

30%

The broker, but only for the first year. After that, the borrower is fair game.

13%

Hard to answer. It’s a complicated issue.

22%