Saw this announcement, wondering how much of a loss this is? Anyone know how many Relo loans we’ve been doing or have insight?
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Goes to show you that mortgage is dead here
Yessir, relo was huge at one point, insanely busy in years past but it has slowed down soooo much recently, became a dept just taking overflow from other depts. Relo has been dying for a while, we kind of saw the writing on the wall and knew it was coming tbh.
I heard that RELO was affected.
It’s really been a huge portfolio?
Yep no more relo. All those HMCS are going to bank mass market (for now)
Really?? Was this announced publicly?
Wells Fargo relo mortgage has been HUGE