✉news BusinessRetail first seen 4 h ago, last 20 min ago, peak #2
Benchmark shuts wholesale lender Eleven Mortgage to focus on retail
Original: Benchmark shuts down wholesale division Eleven Mortgage, says it will focus on retail
Benchmark has closed its wholesale mortgage division, Eleven Mortgage, and says it will concentrate on its retail lending business going forward. The move ends the company's wholesale origination channel, leaving wholesale lenders and broker partners affected by the decision. It is the latest sign of consolidation and cost-cutting in the mortgage industry as lenders retreat from less profitable channels amid a tough housing market.
Why now: Mortgage industry consolidation and channel shifts are drawing attention amid difficult market conditions
BenchmarkEleven MortgageHousingWire
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