American Banker (01/11/08) P. 13; Launder, William
Close to 20 percent of the 2,400 real estate agents polled in December by Geosegment Systems Corp. on behalf of Campbell Communications Inc. and Inside Mortgage Finance Inc. say they have recommended their firms' in-house lender more often during the previous 90 days. Of these agents, 70 percent said the external lender they preferred to work with had closed up shop, scaled back its offerings or no longer closed deals in a timely manner. According to Geosegment's Tom Popik, "In general, lenders are emphasizing their retail channel much more" because "they can more directly control the quality of the origination." The survey ranked ERA Mortgage, Weichert Financial and Coldwell Banker Mortgage above Bank of America, Countrywide Financial, JPMorgan Chase & Co. and Washington Mutual.
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