BankUnited stops originating retail mortgage loans

BankUnited, the largest bank based in South Florida, stopped making residential mortgage loans to consumers and laid off some of its staff. Mary Harris, a spokeswoman for BankUnited, told the.

BankUnited has stopped offering retail residential mortgage loans to consumers and laid off some of its workers. South Florida’s largest locally based bank said new residential mortgages weren’t generating enough business.

Record income growth helps homebuyers in poorer cities In the Crosshairs Today: Thornburg Mortgage  · From a high of $28 dollars in 2007, at close of trade Thursday, Thornburg shares were worth just 75 cents a piece. The company specialises in jumbo mortgages -.She has help two or three days a week. of a relatively small number of very high-income individuals, she said. In addition, the formula tends to direct more funding to counties or cities seeing.

BankUnited Inc. has made a decision to stop originating residential loans, and the level of loan volume played a role. BankUnited was created in May 2009 when BankUnited FSB was acquired from the Federal Deposit Insurance Corp. The buyer, an investment group led by John A. Kanas, plowed $900 million.

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BankUnited has stopped offering retail residential mortgage loans to consumers and laid off some of its workers. South Florida’s largest locally based bank said new residential mortgages weren. Prepayment penalties can stop you from paying off your loan on your terms.

BankUnited of Miami Lakes, Fla., has exited the retail mortgage origination channel. It originated loans through its retail banking branches in Florida and New York. The bank was not able to generate enough volume because of its small footprint, said Mary Harris, senior vice president of marketing.

Retail Lender: A lender who lends money to individuals rather than institutions. Banks, credit unions , savings and loans institutions, and mortgage bankers are all examples of retail lenders.

Detroit-based Quicken Loans – second in the ranking, with $848.2 million in mortgage loans issued – became one of the most well-known and successful nonbank lenders through its online platform.

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