By the big three I mean Wells Fargo, Bank of America and JPMorgan & Chase. According to Mortgage Lender Rankings reports, residential loan originations fell by 19 percent fueled by the big three comparing this year to last year.
Is this good or bad? Who benefits? Well, could it be that buyers are not using the bigger banks now because the bigger banks are making it too difficult for the average home buyers to secure mortgages? Benefitting from this may be the smaller banks who do have funds to lend and buyers are able to take advantage of that. Hmm. Good food for thought. I believe that most Americans still want to own a home and the banks that make that process the easiest are going to be able to service those loans, will get the raised hands from the public.