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We’re honored at M&T Bank to have had the privilege of working with so many outstanding brokers. However, we have made the difficult decision to exit the Wholesale Mortgage business effective Thursday, June 27, 2019.
Rest assured that we will honor the locks you have with us and we will continue to process and close the files that have already been submitted. Unfortunately, we can no longer accept any new unlocked loan estimate (LE) requests for loan application package submissions as of Thursday, June 27, 2019. If a loan was locked on or before June 27, 2019, we will proceed with the LE request. Additionally, no new loan application packages without a prior LE from M&T will be accepted after June 27, 2019. Please continue to submit underwriting packages for loans that have had a LE issued on or before June 27, 2019.
As you can imagine, this was a difficult business decision to make. During this wind-down period we will keep you up-to-date on your loans with us. All loans must be closed and funded by Friday, August 30, 2019, after which time M&T Bank Wholesale Division will no longer fund wholesale loans.
Please feel free to call or email your usual M&T contact with any questions.