Ask a banker: Are big banks getting out of residential mortgage lending?
This is a skyhidailynews.com article.
We hear that big banks are getting out of residential mortgage lending. Is that true?
Well, they’re not getting out, but they sure are pulling back. For example, in 2012, Wells-Fargo, the nation’s top mortgage lender, funded 125 billion in mortgages in the fourth quarter. In the same period for 2015, volume was down to 47.5 billion. J.P. Morgan-Chase saw a similar decline: 51.2 billion in the last quarter of 2012, and only 22.5 billion for 2015’s final quarter.
PiggyBankBlog Courtroom Bailiff: “All Rise! Gold Olympian Cindy Brown has entered the Courtroom of Public Opinion in recent PiggyBankBlog Court of Public Opinion Radio Interview!”.