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'Good at Everything' Approach has Big Banks Failing to be Great at Anything

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You need to do one thing very well to succeed in the mortgage business, and large banks are learning that lesson the hard way. They have been focused on too many things, and as a result, they are experiencing disruption and are retreating from the mortgage business. While this isn’t a good situation for the banks, it’s a great opportunity for consumers, who can benefit from better and more affordable services from smaller independent companies, which aren’t held back because of conflicts of interest or too little time to devote to mortgage borrowers.