Are Lenders Moving Too Slowly for Recovery?
Posted in the Real Estate Forum
#1 Oct 26, 2012
All-time low mortgage rates, coupled with belief that the economy is finally recovering, have caused an increase in the demand for home loans and refinancings. In fact, there been so much of a surge that banks are having a problem processing the paperwork in a timely manner, causing a log jam.
But instead of hiring more staffers, mortgage bankers are using the situation to add to their profit margins.
In the end, home buyers and refinancers are waiting way longer than they should be!
How is something like this possible?
REF:http://www.realtypin.com/N ews/Story/833-Are-Lenders-Movi ng-Too-Slowly-for-Recovery
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