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Article: More Agents Looking In-House for Lenders.(real estate agents)
- Article from:
- American Banker
- Article date:
- January 11, 2008
- Author:
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Historically, real estate agents have shown little loyalty to their employers' in-house mortgage operations, and they have been a prized referral source for lenders seeking purchase business.
As commissioned salespeople, the agents were indifferent to who financed a home purchase as long as it closed. But this may be changing.
Successive waves of guideline tightening and product discontinuations across the mortgage industry - not to mention the bankruptcy or shuttering of numerous lenders - have given agents stronger incentives to send customers to internal financing sources.
With a colleague down the hall, some agents and observers say, agents ...