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Home » Store » News » Competitors Step Up to Correspondent Opportunity

Competitors Step Up to Correspondent Opportunity

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Wells Fargo sucked up more than half of the correspondent business Bank of America left on the table after deciding to get out of the business of aggregating closed loans from correspondent lenders, according to an Inside Mortgage Trends analysis. Wells Fargo increased its sales of correspondent loans to Fannie Mae and Freddie Mac by $14.1 billion during the fourth quarter, slightly more than half of the total increase in correspondent deliveries to the government-sponsored enterprises. Wells increased its correspondent mortgage sales to the GSEs by 87.4 percent during the fourth quarter, while...
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