The headline says it all. If you’re looking for confirmation. HERE is the BoA presser. Below is the text of the release. ————————————————————————– Strategic Move Will Build Upon Leadership Positions in Retail, Correspondent and Warehouse Lending Bank of America Home Loans will exit the first mortgage wholesale channel to focus more operational resources toward fulfillment capacity for its leading direct-to-consumer retail channel, helping existing and new customers obtain mortgage financing. Bank of America will also devote additional resources toward enhancing its leadership positions in correspondent and warehouse lending. The exit will be completed following an orderly transition of loans currently in process. “By exiting the first mortgage…(read more)
News: Bank of America Exits Wholesale Lending. Big Deal?