Clark.com reports that Costco recently decided to ax its signature mortgage program for membership holders. As of May 1, the brand opted to end its online mortgage marketplace. This program helped shoppers score the best pricing options on housing loans, in addition to comparing rates between certain lenders. Costco didn’t offer an explanation as to why it cut the service. Anyone that was in the process of using the digital service to shop for a mortgage now must directly reach out to the lenders in order to keep their mortgage search alive.
Furthermore, Fox Business reports that anyone who was in negotiations with Box Home Loans, CrossCountry Mortgage, Lending.com, Mutual of Omaha Mortgage, NASB, NBKC Bank, Real Genius, or Strong Home Mortgage now must reach out to the companies directly. Walmart has decided to pick up the slack, and may now offer this service through Lenders One Cooperative. If you opted to get a Costco membership to score better mortgage loan rates, you now might have to shift your allegiance to Walmart in the coming days in order to get the same deals.