Industry NewsMortgage

Smaller lenders see opportunity in mergers

Part 3: Real estate industry ripe for consolidation

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Editor's note: The fragmented real estate industry seems to be consolidating. But is it really? And is it good for the consumer? This four-part series looks at the trend of consolidation, who wins, who loses, and who is driving it. (See Part 1: NRT: The mega consolidator; Part 2: Brand names move into technology space; and Part 4: Brokerages combine while market explodes.) Geoff Robbins, regional manager for Colonial National Mortgage, sees opportunities in the consolidation of mortgage lenders. A few weeks ago, for instance, a headhunter called to ask him whether he was interested in hiring employees of a mortgage branch that was closing as the result of a recent merger. "It didn't work out, but I definitely looked at it as an opportunity," Robbins said. Beyond the chance to hire experienced employees without having to look too hard, Robbins and employees at other smaller lenders can easily tick off a list of other upsides they believe lender consolidation brings. They say they can o...