Obviously, few here have any knowledge of how the mortgage industry functions today. (Just a comment - not a snide remark!) Having been involved in this industry for more years than I care to reveal, I can say without hesitation that with all the regulations foisted upon us by Dodd-Frank et al, Walmart would never consider entering into the mortgage world. It restricts competitveness, creates innumerable compliance issues, and has increased cost factors in the name of 'Consumer Protection', all to the benefit of government agencies and their affiliates, and serving no obvious benefit to the consumer. What used to be a fairly pleasant, one-on-one, cut & dry business transaction to help people become homeowners has now become a multi-level, impersonal, paperwork-intensive exercise in tolerance on the part of all involved.
Walmart is in the busines to maintain & improve their financial stability and provide a service to the general public. The mortgage industry is now 'capped' on its earning capabilities regardless of whether it's a small office or a large bank. The licensing, fees, and costs are all mandated and have all grown incrementally, yet those cannot be passed on to the consumer. The ability to remain financially VIABLE (much less PROFITABLE) is a constant struggle to any independent company and/or bank offering mortgage services, unless they are directly tied to government programs.
It's a pretty safe bet that the same will happen with the Health Care Industry trying to keep it's head above water with what's coming down the road.
Just my ...
Hello Ria! Good to see you back.