The wholesale mortgage business is taking on the likeness of a Wild West barroom brawl, with pricing competition so fierce some companies are being left for dead.

"I was born and raised in New York City, and I tell you I'm about ready to get a knife and a gun when I make my way through our brokers' offices," said Bob Hedley, executive vice president at Union Financial Corp., McLean, Va.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.