Has anyone else seen this? I’ve searched the boards and couldn’t find anything. I did a prequal with Cap1 (I know, not worth the paper it’s written on. Also not actively seeking a mortgage until my CR is in better shape. Just did the PQ for the heck of it). I got a letter today that said they are done with mortgage loans. “Capital one has made the decision to close our mortgage originations business.” Not accepting new applications as of 11/7 and if you have an app not yet submitted, it needs to be done by 11/22. I can take a pic of the letter if anyone would like to read it.
Happened two weeks ago IIRC. Actually I should've posted that in Credit in the News if it wasn't already; mortgage origination is way down this year as I understand it, C1 decided to focus on other business lines (read as more profitable) where there wasn't the extreme competition that exists in the mortgage origination space currently.
