Tuesday, October 5, 2010

Bank of America Exits Wholesale Lending. Big Deal?

If you have trouble viewing this email, you can read the full post at http://www.mortgagenewsdaily.com/channels/newsletter/175173.aspx

You were sent this email because you opted to receive email notifications when a new article was published. Please visit here and update your subscriptions if you no longer wish to receive updates.

Forward this email:  Send a copy of this story to someone you know that may want to read it.


HomeToday's HeadlinesATWForumsQ&AMortgage Rates 
Top Stories      
Bank of America Home Loans will exit the first mortgage wholesale channel to focus more operational resources toward fulfillment capacity for its leading... - MND NewsWire
Three lenders have now suspended foreclosure and/or evictions in 23 judicial foreclosure states. While this issue started a PR problem, it is growing... - MND NewsWire
Rate sheet influential MBS coupons have been generally stable since ISM flashed. Yield spreads are however wider as origination supply has picked up slightly... - MBS Commentary
jeffer90576
MBS Quotes
FNMA 4.0 103-04 0-01
FNMA 4.5 104-14 0-01
FNMA 5.0 105-16 0-03
FNMA 5.5 106-14 0-01
FNMA 6.0 107-19 0-01
Updated: 10/5/10 4:33 PM
Treasuries
3 MO 0.1065 -0.0406
2 YR 0.3988 -0.0079
5 YR 1.1949 -0.0291
10 YR 2.4704 -0.0054
30 YR 3.7412 0.0351
Updated: 10/5/10 4:47 PM
Mortgage Rates
30 Yr FRM 4.30 -0.02
15 Yr FRM 3.65 -0.03
FHA 30 Year 4.32 -0.01
Jumbo 30 Year 5.46 -0.03
5/1 Yr ARM 3.50 -0.02
Updated: 10/5/10 4:56 PM
Latest Video      
View:All Videos
Bond Bubble Theory Gaining Traction
10/5/2010
Are small investors taking too big a bet on debt? Tony Crescenzi, of PIMCO, and Andrew Schiff, of Euro Pacific Capital, discuss.
Commercial Realty Takes a Hit
10/5/2010
Office buildings lost 1.9 million square feet of occupied space, but the pace of deterioration has slowed, according to Reis Inc. CNBC's Diana Olick has...
Spending: Where to Cut
10/5/2010
Midterm elections are just four weeks away and nearly every political candidate is touting spending cuts, but where should the cuts be made? Democratic...

Advertise With Mortgage News Daily
JOIN THE CONVERSATION
Recent Comments
Melissa Browning
on 10/5/2010 - read this comment
Whew! I got nervous when I rec'd a communication from Wells today, stating their committment to the wholesale broker channel. Now that I know their reassurance came in response to BofA and not becuase...
Steve Chizmadia
on 10/5/2010 - read this comment
I used them on all of my conventional "flips." as they were the only lender that had no issues with just one appraisal on these. Looks like I'll be using PMAC, Guild Mortgage and Provident...
Adam Quinones
on 10/5/2010 - read this comment
BoA still buys loans through the correspondent conduit (UW delegation is important!). The wholesale lending market is competitive with or without BofA in it. Were they offering any niche UW agency products...
JTB
on 10/5/2010 - read this comment
Maybe it has nothing to do with the potential origination compensation changes, and everything to do with the fact that they are awful at wholesale and have been contracted in that area for 18 solid months...

Mortgage News Daily


You were sent this email because you opted to receive email notifications when a new article was published. Please visit here and update your subscriptions if you no longer wish to receive updates.

Forward this email:  Send a copy of this story to someone you know that may want to read it.

If you have trouble viewing this email, you can read the full post at http://www.mortgagenewsdaily.com/channels/newsletter/175173.aspx