«This year we've had the same
volume of loans performed as usual, but we've also been receiving frantic calls from veterinarians saying their lender backed out and they're in the middle of a project,» says Annemarie Murphy, a senior loan officer and part owner of Live Oak Bank in Wilmington, N.C. «There's no rhyme or reason to which banks will end their deal — no region or size of bank is standing out — but it's happening all over the country.»
However, dividing the number
of CFPB complaints aimed at PennyMac by its total
loan volume revealed that this lender actually
performed worse than Chase and Wells Fargo, both
of whom rely on huge networks
of branch offices.