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How many mortgages can they service with 3M in assets? Seems like they'd be very limited in that regard.
by tmountain 4y ago
How many mortgages can they service with 3M in assets? Seems like they'd be very limited in that regard.
- adamredwoods 4y agoIn the US, originator mortgages get sold to other banks, who then can wait 30 years for repayment. For example, Fannie Mae. https://www.fanniemae.com/about-us https://www.fanniemae.com/about-us
- goodcanadian 4y agoFrom the article: There are currently only 40 or so mortgages outstanding, and as customers pass away, the stock is not being replenished with loans to younger generations, who have no particular affinity for in-person banking.
- tmountain 4y agoThe realest form of attrition...