Would Steve Jobs Approve of 'Apple Mortgage'?

Apple co-founder Steve Jobs revolutionized the computer, phone and music industries. But mortgage banking? Okay, so Apple (from what we know) has no designs on mortgage banking, but it's interesting to think about it because the inventor of the iPhone/iPod Touch/iPad and other gadgets is sitting on roughly $100 billion of cash and securities. Heck, if it wanted to, Apple could plug the hole in either Fannie Mae or Freddie Mac. (But not both.) Meanwhile, Apple's competitor (sort of) IBM continues to make inroads in mortgage banking through its Seterus specialty servicing division. It could have $100 billion of MSR assignments by yearend 2012, or so it hopes. Seterus, of course, doesn't talk to the press about its plans. Or anything else, for that matter.

Servicing

Technology

Comments (5)

I think it's a great ideal. If Apple can do for the housing and mortgage industry, what it did for the computers and phones, it would mean JOBS, JOBS, JOBS. The man's sprit is still with us. As a Mortgage Brokager in the Los Angeles area, I would love to work with them.

Posted by TheGoldenBroker | Tuesday, February 21 2012 at 1:58PM ET

Apple is far too smart for that. Low return on investment, tons of government red tape and can't foreclose so you are essentially giving low interest unsecured loans. No wonder the government is the only player in the game.

Posted by John Councilman | Tuesday, February 21 2012 at 2:53PM ET