Do You Know Who the "Big Two" are?

I won’t make you guess. The “Big Two” are Wells Fargo and Bank of America. Why are they the big two? They are the big two because during the second quarter Wells Fargo and Bank of America combined, originated 44% of all home loans. http://www.nationalmortgagenews.com/lead_story/?story_id=96Why am I telling you this? Well, despite the fact that many loans are sold or transferred from the originating lender, this still means that the “Big Two” are pretty strong and are likely to have REO asset well into the future. Now you say, “but their networks are closed”. True, so you need to know how to get in to their network. Hmmm…sounds like a great question for “Ask the Asset Manager”!

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Comments

Angel Williams October 3, 2009 at 5:58am

Lowell, I have a relationship with Wells L/O and she called Vendor Mgt but was told they arent accepting new agents. Help, what else can be done!
Lowell Caro, Jr October 2, 2009 at 3:34pm

MeLisa, have you established a relationship with a Wells L/O? If you haven't, that's your first step... :)
MeLisa Minter October 2, 2009 at 4:37am

My broker is with Wells and I've been trying to get in for two years. Hopefully, they'll need new agents soon.

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