On Monday morning a rumor was making the rounds that a decent sized loan brokerage firm was considering selling out to a mortgage banking company. At this point we’re still trying to confirm the rumor. But from what we understand the mortgage brokerage firm in question depended on Wells Fargo quite a bit, especially for its jumbo loans. Rather than find new wholesalers, it decided to sell. Meanwhile, we continue to hear about new names entering the wholesale space or expand their existing presence. As we learn those names we’ll pass them onto you.
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