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Amazon Mortgage Lending: Good Idea? Why? What's Next?

• https://www.themaven.net

Amazon formed a mortgage lending division. The company seemingly wants to be a one-stop shop for everything.

REwired reports Amazon Hiring Head of Newly-Formed Mortgage Lending Division.

Earlier this week, we reported to the LendingLife community that online shopping giant Amazon may be looking to get into the mortgage lending business, or at least that's the rumor among mortgage lending professionals.

While limited in scope, Amazon's plans are to start with offering checking programs first, then maybe move into the debt product space after.

Well, after reporting that, we've received information that Amazon is currently looking to hire someone to lead their newly-formed mortgage lending division. Due to non-disclosure agreements, we probably shouldn't reveal their identities. After all, with Amazon planning a move into mortgage lending, it's best we work with them and not against them. Am I right?

We can say that if you look at the top 10 HMDA lenders and pick out the nonbanks, that's where Amazon is recruiting their talent.

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