Why New South Federal Savings Bank
Posted on | October 7, 2008 | No Comments
Now that I have recently moved from a mortgage company to a regional bank, I have had several people ask me why I made the move since I was happy at the mortgage company. The simple answer is that times are a changing and I felt it was the right thing to do, not only for me, but for my clients.
I was not interested in going to one of the “big guys” as they are the ones who have been most affected by the mortgage back security mess more than some of the smaller banks. Mortgage companies who are trying to sell mortgage back securities in order to maintain their business models are having a tough time as well finding investors to purchase this paper and seem to be struggling. What that leaves are the smaller local and regional banks that have the flexibility to sell their mortgage paper or portfolio them within the bank. It seems smart to me to go with the most flexibility right now.
The bottom line for borrowers is getting the loan they need at a good competitive rate. New South Federal definitely has this in their favor. In the end it’s my clients that ultimately win and if they win, I win.
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