Morgan Stanley plans to bring its mortgage origination business in-house, as the bank ramps up the business to create a bigger presence in the mortgage market.
According to the Reuters article by Olivia Oran, Morgan Stanley wants to bring the business in-house to improve customer service and generate more mortgages, citing two people familiar with the matter.
“Morgan Stanley executives hope that handling originations in-house will smooth out the process and give the bank a chance to market other products and services to wealthy clients,” the article stated.
Before bringing the business in-house, Morgan Stanley used PHH Corp. as a third-party provider for its originations.
Deadly Clear 