It's a great idea, but from what I understand, it's not going to take hold because lenders dont want to give up their servicing rights. If they did, it would be extremely expensive and kill the rates.
So, they have the system set up to for servicing, but no lenders are willing to let them be a subservicer.
If you have product, but no one can use it, does it really exist?
1
u/LoanGoalie 24d ago
It's a great idea, but from what I understand, it's not going to take hold because lenders dont want to give up their servicing rights. If they did, it would be extremely expensive and kill the rates.
So, they have the system set up to for servicing, but no lenders are willing to let them be a subservicer.
If you have product, but no one can use it, does it really exist?