Amazon Sets Off To Become America's Biggest Mortgage Lender | Zero Hedge
Description: Amazon is currently looking to hire someone to lead their newly-formed mortgage lending division, Housing Wire reports.

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# Amazon Sets Off To Become America's Biggest Mortgage Lender

First it monopolized the online retail space; then it made a dramatic appearance in the bricks and mortar grocer sector with its acquisition of Whole Foods, and lately it has been preparing to take on both the pharmaceutical & healthcare sector, and even banking.

And it's only just starting, because as Housing Wire notes, Amazon is now looking to get into the mortgage lending business, and not just get into it but - in standard Bezos operating procedure - dominate it thoroughly while crushing, humiliating and bankrupting all competition. The company for which barriers to entry simply do not exist, was first reportedly planning on starting with offering checking programs first, then move into the debt product space after. And now, Housing Wire confirms that Amazon is currently looking to hire someone to lead their newly-formed mortgage lending division.

Here, a humorous aside from the report author, who refuses to provide the identity of the mortgage lender firm that Amazon has targeted:

> Due to non-disclosure agreements, we probably shouldn’t reveal their identities. After all, with Amazon planning a move into mortgage lending, it’s best we work with them and not against them. Am I right?

... but gives the following hint:

> We can say that if you look at the top 10 HMDA lenders and pick out the nonbanks, that’s where Amazon is recruiting their talent.

... and adds that "one person we spoke to turned down the job, but couldn’t say why."

We are confident, however, that the next person Jeff Bezos speaks about the role of starting up Amazon's mortgage lending division, will be delighted to accept.

The timing of Amazon's entrance into the highly competitive sector is hardly coincidental: last month we reported that America's formerly largest mortgage lender, Wells Fargo, just lost its title to Quicken:

> Quicken revealed that it originated $25 billion in home loans during the quarter, compared with Wells Fargo's $23 billion in home mortgages. Wells is the country's leading bank in home mortgages; Bank of America and JP Morgan Chase & Co. reported $13 billion and $11 billion that quarter, respectively.

In other words, as of this moment, an "online" service is the most popular provider of mortgage loans in the US. It is this niche that Bezos has realized provides a major opportunity for Amazon, and he is not shy of making it clear that in just a few years, your mortgage lender will be none other than Jeff Bezos as Amazon continues on its unstoppable crusade of intergalatic domination.

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## Comments

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LoveHateTrump Fri, 03/09/2018 - 11:04 Permalink

President Bezo's please.

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Stan522 LoveHateTrump Fri, 03/09/2018 - 11:05 Permalink

Amazon goes into business sectors, not to compete, but to consume it and completely take it over.....

In reply to President Bezo's please. by LoveHateTrump

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Ghost of Porky Stan522 Fri, 03/09/2018 - 11:06 Permalink

"Alexa, loan me half a million bucks."

In reply to Amazon goes into business… by Stan522

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Dumpster Elite Ghost of Porky Fri, 03/09/2018 - 11:08 Permalink

Makes a "Rocket Mortgage" look downright antiquated.

In reply to "Alexa, lend me half a… by Ghost of Porky

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Joe Davola Dumpster Elite Fri, 03/09/2018 - 11:11 Permalink

Has one-click mortgage been patented?

We're in sore need of some trust-bustin'

In reply to Makes a "Rocket Mortgage"… by Dumpster Elite

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Life of Illusion Joe Davola Fri, 03/09/2018 - 11:18 Permalink

Mortgage flipping biz

FedEx to the FED and dump

In reply to Has one-click mortgage been… by Joe Davola

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Mr. Schnitzel Face Life of Illusion Fri, 03/09/2018 - 11:30 Permalink

Since the regulators and govt will not trust-bust, I say let Bezos do it!

One small caveat is that he is required to hold all paper till repaid and is not allowed to have loans sent to the financial engineering mill.

That way the problem of Amazon getting too big should take care of itself when these mortgages go tits up.

In reply to … by Life of Illusion

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hedgeless_horseman Mr. Schnitzel Face Fri, 03/09/2018 - 11:33 Permalink

> Buy-N-Large...Everything you need to be happy.

In reply to Since the regulators and… by Mr. Schnitzel Face

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earleflorida Mr. Schnitzel Face Fri, 03/09/2018 - 11:56 Permalink

that small insignificant caveat has already been redacted...

[as] holding millions of acres in 'speculation' without paying any property taxes... just because?

In reply to Since the regulators and… by Mr. Schnitzel Face

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NoDebt Joe Davola Fri, 03/09/2018 - 11:19 Permalink

Click, lie, get mortgage.

Bye bye, Quicken Mortgage.

In reply to Has one-click mortgage been… by Joe Davola

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Shillinlikeavillan NoDebt Fri, 03/09/2018 - 11:25 Permalink

Great... was planning to buy my first house in a few years when the chinese finally GTFO...

Now I'll never will be able to...

In reply to Click, lie, get mortgage… by NoDebt

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Joe Davola Shillinlikeavillan Fri, 03/09/2018 - 11:45 Permalink

You're better off - no yard to mow, no snow to shovel. Someone else has to unclog the pipes. Xanadu!

In reply to Great... was planning to buy… by Shillinlikeavillan

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Endgame Napoleon Ghost of Porky Fri, 03/09/2018 - 11:37 Permalink

Do you prefer to pay that back with PayPal, BitCoin or another form of payment?

In reply to "Alexa, lend me half a… by Ghost of Porky

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Joe Davola Endgame Napoleon Fri, 03/09/2018 - 11:46 Permalink

AmazonCoin - for sure that's in the works.

In reply to Do you prefer to pay that… by Endgame Napoleon

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OneOfUs Ghost of Porky Fri, 03/09/2018 - 13:08 Permalink

https://twitter.com/CaptHandlebar/status/966838302224666624/video/1

In reply to "Alexa, lend me half a… by Ghost of Porky

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zipit Ghost of Porky Fri, 03/09/2018 - 13:24 Permalink

You're gonna need a bigger loan.

In reply to "Alexa, lend me half a… by Ghost of Porky

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whatswhat1@yahoo.com Stan522 Fri, 03/09/2018 - 11:07 Permalink

Limits?

In reply to Amazon goes into business… by Stan522

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wmbz Stan522 Fri, 03/09/2018 - 11:30 Permalink

Yes they do, but that would not be possible without it's faithful customers. Sort of a cult like following.

In reply to Amazon goes into business… by Stan522

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Kurpak Stan522 Fri, 03/09/2018 - 11:57 Permalink

Exactly, this is total world conquest under the guise of "a better deal."

Antitrust laws need to be revisited to include provisions to break up entities like Amazon\Google.

The original intent of antitrust was to protect consumers, but what about protecting businesses and the economy as a whole?

Coring out the entire supply side of the market and consolidating power to these select mega corporations is the very definition

of economic tyranny.

In reply to Amazon goes into business… by Stan522

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whatswhat1@yahoo.com LoveHateTrump Fri, 03/09/2018 - 11:06 Permalink

Antitrust?

In reply to President Bezo's please. by LoveHateTrump

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Endgame Napoleon whatswhat1@yahoo.com Fri, 03/09/2018 - 11:40 Permalink

You must be one of those over-30 non Millennials, living in the non-digital past, where antiquated, 19th century / early 20th century notions find fertile ground.

In reply to Limits? by whatswhat1@yahoo.com

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whatswhat1@yahoo.com Endgame Napoleon Fri, 03/09/2018 - 11:56 Permalink

Well. Maybe. Born 1940's. And, I don't walk around town with a mobile in my hand.

Anyway, it was sarcasm.

I refuse to use /s for douchetards.

footnote: I got cut out of a mid-six figure, self-employed income due to antitrust in the late 1990's. A mass action suite netted $30K. God bless America.

In reply to You must be one of those… by Endgame Napoleon

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ZENDOG LoveHateTrump Fri, 03/09/2018 - 11:07 Permalink

I smell anti-trust in the air....

In reply to President Bezo's please. by LoveHateTrump

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DillyDilly ZENDOG Fri, 03/09/2018 - 11:09 Permalink

I thought that was pickled gefilte

In reply to I smell anti-trust in the… by ZENDOG

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Endgame Napoleon ZENDOG Fri, 03/09/2018 - 11:47 Permalink

They only held the nerdy-cubed Gates to the old-school standards. Bezos will escape due to his swaggering ways, but mostly due to the fact that Gates’s anti-trust controversy arose before the era of mass-scale mobile-tech hypnosis, brought to us by Jobs, who made tech soooooo much more accessible and convenient to the non-technical. When they went after Gates, it was more of a business-turf war, not a war against the insurgent consumer culture.

In reply to I smell anti-trust in the… by ZENDOG

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yogibear LoveHateTrump Fri, 03/09/2018 - 11:23 Permalink

You mean dictator Bezos. An Alexa in every house so any non PC statements will send you into the slammer for a night or longer..

In reply to President Bezo's please. by LoveHateTrump

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Endgame Napoleon yogibear Fri, 03/09/2018 - 11:51 Permalink

Is Alexa waterproof?

Just asking.

Long live the First Amendment to the US Constitution!

In reply to You mean dictator Bezos. An… by yogibear

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44magnum Fri, 03/09/2018 - 11:04 Permalink

Can we just ban the chosenites from selling?

Selling anything.

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Endgame Napoleon 44magnum Fri, 03/09/2018 - 11:53 Permalink

Can we exempt the ones who keep up some of the only interesting art-related businesses in my city? Some of those businesses really don’t rake in the profits, but add a lot to the quality factor in cities.

In reply to Can we just ban the chosen… by 44magnum

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Gladi8tor Fri, 03/09/2018 - 11:04 Permalink

Who Do I Talk to about becoming an AMAZON REALTOR?

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Easyp Gladi8tor Fri, 03/09/2018 - 11:06 Permalink

The word is disciple dude....

In reply to Who Do I Talk to about… by Gladi8tor

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MoralsAreEssential Gladi8tor Fri, 03/09/2018 - 11:12 Permalink

When you sign on with a Satanist, it's with a blood exchange, yours and theirs, and someone has to die? Still want to play?

In reply to Who Do I Talk to about… by Gladi8tor

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Endgame Napoleon Gladi8tor Fri, 03/09/2018 - 11:56 Permalink

Hello, my name is Alexa.

I can help you with ALL of your real estate needs.

No commission required.

Are you ready to begin your real estate journey?

In reply to Who Do I Talk to about… by Gladi8tor

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spastic_colon Fri, 03/09/2018 - 11:04 Permalink

gotta hand it to bezos, he sure knows how to take advantage of a country with no anti-competitive laws......

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Endgame Napoleon spastic_colon Fri, 03/09/2018 - 12:14 Permalink

I am one of the masses of single, childless citizens who cannot afford rent that absorbs more than half of my earned-only, non-spousal-augmented, non-welfare-hoisted, non-child-tax-credit-boosted income.

I guess I should applaud this takeover of a real estate industry that does not serve many of the 28% of childless citizens over 40, much less many of the older single moms with grown children, the noncustodial single parents and the childless-for-now young-and-single citizens.

I.E., the real estate industry does not serve the many non-rich American citizens, living on earned-only income from one source in an ever-less-married country.

I should applaud it, especially if Amazon Real Estate includes a rental wing that helps underemployed Americans find affordable and decent-quality apartments in safe areas.

> Alexa, find me an acceptable apartment that does not soak up over half of my $— monthly income, taking into consideration that this temporary, part-time, high-turnover, low-wage or 1099 gig might not last 6 months.

> Sorry, I did not understand your request.

> 501 Gateway Error

> Abort mission ......

> Return to the temp job portal .......

In reply to gotta hand it to bezos, he… by spastic_colon

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Calculus99 Fri, 03/09/2018 - 11:05 Permalink

Evil Amazon taking on the evil banks...

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Dumpster Elite Calculus99 Fri, 03/09/2018 - 11:09 Permalink

Cage match...lock the door...to the death.

In reply to Evil Amazon taking on the… by Calculus99

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VAL THOR Calculus99 Fri, 03/09/2018 - 13:07 Permalink

Amazon going into the banking business, wheels in motion.

Traditional banks will lose.

In reply to Evil Amazon taking on the… by Calculus99

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DillyDilly Fri, 03/09/2018 - 11:05 Permalink

ALEXA ~ Rehypothecate my mortgage & foreclose on my house then hit it with jewish lightning before squatters move in.

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Easyp DillyDilly Fri, 03/09/2018 - 11:07 Permalink

Ha,ha,ha,ha,ha!

In reply to ALEXA ~ Foreclose on my house by DillyDilly

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ZENDOG DillyDilly Fri, 03/09/2018 - 11:08 Permalink

"Alexa, I need 4 million dollars to by a shack in Oakland California."

In reply to ALEXA ~ Foreclose on my house by DillyDilly

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Give_me_liberty_or Fri, 03/09/2018 - 11:05 Permalink

triple A rated?

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Easyp Fri, 03/09/2018 - 11:05 Permalink

Behold, Big brother has finally arrived, very 1984!

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PGR88 Fri, 03/09/2018 - 11:06 Permalink

Bezos realized that the best debt slaves are mortgage debt slaves, not consumer-credit debt slaves.

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Herdee Fri, 03/09/2018 - 11:06 Permalink

Amazon needs to take out a big insurance company in order to defer taxes like Warren Buffet does.

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earleflorida Herdee Fri, 03/09/2018 - 12:07 Permalink

Buffet is a COMMUNIST!

an Aristocratic Autocratic Despotic/Feudalistic Federalist straight out of Amerikananazi Land'd`Nobility--- POS!!!

In reply to Amazon needs to take out a… by Herdee

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ZENDOG Fri, 03/09/2018 - 11:10 Permalink

But where is Apple for all the Apple Fags? Don't they count?

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Utopia Planitia Fri, 03/09/2018 - 11:10 Permalink

Hmmm. A company with no profits wants to go into the mortgage business. So the capital is coming from where? Well, with Bezos he will get it lined up - it will come right out of YOUR pocket (whether you like it or not)! Get ready for Bezos to be your landlord/master!

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Dr. Acula Fri, 03/09/2018 - 11:10 Permalink

.

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economessed Fri, 03/09/2018 - 11:10 Permalink

So let me get this straight - Amazon will hold the title to your house where you have all their cardboard boxes shipped, all your conversations monitored by their Alexian-snooping devices, watch everyone who comes and goes to the house through their web-enabled doorbell and track what food items you consume.

And we still pretend that the 4th Amendment to the Constitution exists?

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