DC Realty Firm Discouraging Outside Mortgage Bankers?

The president of Long & Foster, one of the largest realty firms in the Washington, D.C. area, is said to be discouraging his agents from using mortgage bankers that are not affiliated with the company. According to a report in The Washington Post, P. Wesley Foster recently sent an e-mail to thousands of Long & Foster agents urging them to refer business to the Realtor's own mortgage company, Prosperity Mortgage, instead of using lenders such as Bank of America. According to the report, Mr. Foster chastised his workers for referring at least 2,200 mortgages to BoA last year. At press time, Mr. Foster and BoA had not returned telephone calls on the matter.