Bankers say QE3 could be limited by delays in processing mortgage applications, with banks...
Monday, September 17, 2012, 8:23 AM ETBankers say QE3 could be limited by delays in processing mortgage applications, with banks reluctant to cut mortgage rates without the staff to process any increase in business. “In the very near term [QE3] has virtually no transfer mechanism whatsoever to the customer,” said one executive at a top lender. “Originators are massively backlogged in terms of origination volumes.”
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