I have written before about the changes that have taken place in recent years with Fannie Mae and Freddie Mac and the negative impact those changes have had on the prevalence of wholesale and correspondent lenders in the mortgage banking market. I have pointed out, as the wholesale channel has fallen from a peak of controlling as much as 65 percent of all loans originated, to less than 30 percent, and eventually, dipping below 15 percent, the greatest impact has been felt—not by the big banks—but rather, by the independent mortgage bankers.Click to continue
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