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Finding a Lender

June 22, 2012  |  by John Heithaus

I came across this great tool from the WSJ found HERE that “will allow you to find the lenders doing business in particular zip codes whose consumer lending business is growing.” Put in a zip code and it lists lenders active in mortgage lending that you may find valuable with your customers, in addition to the in-house preferred lenders a brokerage may have.

The article states: “Across the country, thousands of banks and credit unions are bucking the dominant just-say-no mentality when it comes to consumer lending. In the wake of the financial crisis that saddled banks with huge losses, the largest 10% of banks by assets shrank their consumer lending by 4.7% last year, tightening the spigot on loans that aren’t backed by the government. At many smaller banks and credit unions, though, cash continued to flow, with consumer loans rising 3% at financial institutions that fall in the bottom 50% of the industry in assets.

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