Taylor, Bean & Whitaker, one of the top 10 wholesale lenders in America has exited the scene. What this means to Realtors is simply that you will have one less channel to get your customers the interest rate and terms they most qualify for and one more big plus for all the banks, especially the larger banks.

TB&W was one huge channel for Mortgage Brokers because they were looked at sort of like AIG, "too big to fail." Well, this obviously isn't the truth because they exited the scene yesterday afternoon and it is a sad day for the mortgage industry because the banks are already getting stronger and stronger thanks to the legislation being produced by our friendly "on the pad" politicians.

This also means that mortgage brokers are going to have to scramble for trusted lenders, as they are getting more and more in demand and exiting the wholesale market in droves.