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Originally Posted by ishoot308
I too would be extremely leery of this as well!...If the bank is no longer doing any more mortgages or any consumer loans as stated, how will they be making money??
Dan
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I do not have knowledge on BNH, but the key word is "originating"--serving potential borrowers who walk in the door one by one, and doing all the credit assessment and mechanical stuff necessary for people to have cash in hand. In doing this, they compete against low overhead mortgage-only lenders. Interestingly, they may still be financing mortgages--they could buy the loans from these mortgage-only lending companies. Other ways to make money would be business loans.
But I agree with your general implication that their purpose as an organization should be doing exactly this kind of thing