Reading time: 1 minute movement Mortgage, a top 10 national retail mortgage lender, is pleased to announce it has acquired the retail lending assets of Platinum Mortgage. The purchase marks movement’s second acquisition of 2019, following the successful purchase of the retail mortgage assets of Eagle Home Mortgage earlier this year.
The purchase marks Movement’s second acquisition of 2019, following the successful purchase of the retail mortgage assets of Eagle Home Mortgage earlier this year. The latest transaction gives.
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The wholesale mortgage lender funds the loan, and will usually sell it on the secondary market within a month or two. Many mortgage banks have both wholesale and retail divisions, such as Quicken via its Quicken Loans Mortgage Services (QLMS). But wholesale lenders can be independent entities as well.
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Last month, when Home Point announced it acquired the wholesale lending division of Platinum Mortgage, everyone wondered what would happen to the retail lending side. Well, wonder no more. As of this.
A retail lender is a lender who lends money to individuals or retail customers. Banks, credit unions , savings and loan institutions, and mortgage bankers are popular examples of retail lenders.
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