A Tougher Mortgage Market Brings More Competition, Consolidation, and Big Unknowns
May 11, 2006
2006 may be the toughest year for lenders in the last decade, as a slowing market is driving some companies out of business, forcing others to restructure or spin off parts of their operations, and bringing more pressure on everyone. The largely unexpected acquisition of Golden West by Wachovia galvanized the issue for many of the executives at the Mortgage Bankers Association National Secondary Market Conference held this week in Chicago. There have been…