The news that the privately held Prospect Mortgage of Sherman Oaks, Calif., has hired industry veteran Amy Brandt to head its foray into both servicing and correspondent lending should surprise no one. Brandt is a well respected mortgage manager who knows the business inside and out. Her ascension there is just another signal that nonbanks see a major opportunity in residential finance – despite all the talk of how Basel III (now on hold) and coming Dodd-Frank rules are going to force community banks out of the business. As I’ve asked before: just what are these executives working at the community banks going to do when they sell their firms? Open a McDonald’s franchise?
Here Come The Nonbanks? So Long Depositories?
NOV 12, 2012 12:21pm ET
You must be registered to post a comment. Click here to register.
Already registered? Log in here
- Simplifile Integrates Collaboration, Post Closing Services with LendingQB
- Freedom Mortgage Wholesale Division Now Using Simplifile Collaboration Service
- Ellie Mae® Selects DataVerify® Risk Mitigation System for Its Total Quality Loan Program
- Four New Counties Adopt Simplifile as Wyoming Authorizes E-recording Statewide
- FIRST AMERICAN MORTGAGE SOLUTIONS INTEGRATES FRAUDGUARD WITH LOANLOGICS LOANHD PLATFORM