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Volume 2017 - Number 43

November 9, 2017

Capital One Quits Mortgage Finance; Will More Lenders Follow in Its Tracks?

Capital One this week announced that it’s throwing in the towel on mortgage finance, laying off staff and shuttering offices in an attempt to improve profits. And now comes the big question: will other banks follow in its wake?

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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%