Amazon Sets Off To Become America’s Biggest Mortgage Lender

Amazon Sets Off To Become America’s Biggest Mortgage Lender

First it monopolized the online retail space; then it made a dramatic appearance in the bricks and mortar grocer sector with its acquisition of Whole Foods, and lately it has been preparing to take on both the pharmaceutical & healthcare sector,  and even banking.

And it’s only just starting, because as Housing Wire notes, Amazon is now looking to get into the mortgage lending business, and not just get into it but – in standard Bezos operating procedure – dominate it thoroughly while crushing, humiliating and bankrupting all competition. The company for which barriers to entry simply do not exist, was first reportedly planning on starting with offering checking programs first, then move into the debt product space after. And now, Housing Wire confirms that Amazon is currently looking to hire someone to lead their newly-formed mortgage lending division.

Here, a humorous aside from the report author, who refuses to provide the identity of the mortgage lender firm that Amazon has targeted:

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?

… but gives the following hint:

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.

… and adds that “one person we spoke to turned down the job, but couldn’t say why.”

Rest here…


3 Responses to “Amazon Sets Off To Become America’s Biggest Mortgage Lender”
  1. nootkabear says:

    Right, and it is owned by someone who does not pay taxes, and is exempt from shipping fees, making him one of the wealthiest people on earth. Hell, if all of the online businesses were to get the perks he gets, they would all be rolling in dough.
    I be damned if I would want a mortgage from Amazon. Foreclosure Hell would take on a whole new meaning. And people think that Amazon would be different from the rest of the crook lenders? Once a globalist, always a globalist. Foreclosures may have slowed somewhat, but they are not gone, and not forgotten.

  2. Bruce R nelson "geezerkatz" says:

    No doubt if Amazon gets into the mortgage loan biz they will live up to their name as the very best mortgage loan company o planet earth…same as they became the very best, most reputable on line shopping mall on earth. I have been an Amazon prime customer for over 10 yrs. They have always treated me as if I were a wealthy consumer, I am a consumer but not a “wealthy one, yet Amazon treats me as if I were!! So i wish Amazon and its founder the very best as they reachout and expand their award winning honest vendor out there.

    Bruce Nelson
    Banner Elk, NC 28604

    • Gonzozap says:

      Right. Amazon treats every well, with the EXCEPTION of its employees. A horrible, hideous place to work. Amazon could care less about its employees. It’s almost like a third world country working there.

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