n*******9
发帖数: 3244 | 1 NEW YORK—Bank of America Corp. will exit the wholesale mortgage-lending
business Tuesday, limiting its dealings with mortgage brokers as it focuses
on loans made with consumers and large community banks.
But some fear the move could leave fewer options for consumers as they shop
for the most competitive mortgage rates.
The decision also leaves Wells Fargo & Co. as a main player in the wholesale
game, which lets consumers secure loans through mortgage brokers instead of
the bank directly. Last year, J.P. Morgan Chase & Co. said it would no
longer purchase loans originated by brokers, noting in an internal memo that
loans done by Chase professionals outperformed those originated by brokers.
Barbara Desoer, president of Bank of America Home Loans, played down the
origination-quality issue, emphasizing the bank's move as a strategy shift
that lets it play on its strengths and work more directly with customers.
"We tend to prefer business where we have scale," Ms. Desoer said in an
interview. "We love the direct-to-consumer business because it's very
closely aligned with the consumer franchise that Bank of America has."
The bank will stop taking wholesale applications Tuesday. It will honor
loans in the pipeline.
About 1,000 employees will be affected, with some jobs lost. Many staffers
will be offered the chance to transfer to other loan units—including
correspondent, largely community banks, retail sales working directly with
consumers and warehouse lending, which provides short-term loans to small,
independent mortgage banks, letting them fund home mortgages.
Last year, the bank captured 22% of the retail mortgage market, compared
with 8% of the wholesale channel, according to Inside Mortgage Finance, a
trade publication. Bank of America acquired the wholesale channel with its
2008 acquisition of Countrywide Financial.
Ms. Desoer declined to predict how those percentages would change. | b*d
发帖数: 9308 | 2 Wholesale给的利息低，当然赚不到钱了。我前几天去BOA的Branch，看见他们挂出来的牌子：
4.75% 30yrs fix with 1 point。真TNND黑。
focuses
shop
wholesale
of
that
brokers.
【在 n*******9 的大作中提到】
: NEW YORK—Bank of America Corp. will exit the wholesale mortgage-lending
: business Tuesday, limiting its dealings with mortgage brokers as it focuses
: on loans made with consumers and large community banks.
: But some fear the move could leave fewer options for consumers as they shop
: for the most competitive mortgage rates.
: The decision also leaves Wells Fargo & Co. as a main player in the wholesale
: game, which lets consumers secure loans through mortgage brokers instead of
: the bank directly. Last year, J.P. Morgan Chase & Co. said it would no
: longer purchase loans originated by brokers, noting in an internal memo that
: loans done by Chase professionals outperformed those originated by brokers.
| n*******9
发帖数: 3244 | 3 此举可能会有联带效应。Broker们会受影响。起码少了一大lender.
的牌子：
【在 b*d 的大作中提到】
: Wholesale给的利息低，当然赚不到钱了。我前几天去BOA的Branch，看见他们挂出来的牌子：
: 4.75% 30yrs fix with 1 point。真TNND黑。
:
: focuses
: shop
: wholesale
: of
: that
: brokers.
| b*d
发帖数: 9308 | 4 我们还好,因为BOA的利息真的不如其他几个大银行.所以本身在BOA做的Loan就不多.
【在 n*******9 的大作中提到】
: 此举可能会有联带效应。Broker们会受影响。起码少了一大lender.
:
: 的牌子：
| z*********n
发帖数: 94654 | 5 但是你们做的loan很多回头还是卖给boa, citi, wells fargo这几家了
【在 b*d 的大作中提到】
: 我们还好,因为BOA的利息真的不如其他几个大银行.所以本身在BOA做的Loan就不多.
| n*******9
发帖数: 3244 | 6 正是此理。
【在 z*********n 的大作中提到】
: 但是你们做的loan很多回头还是卖给boa, citi, wells fargo这几家了
| b*d
发帖数: 9308 | 7 现在我们的买家大部分是Citi和Wells了.
【在 z*********n 的大作中提到】
: 但是你们做的loan很多回头还是卖给boa, citi, wells fargo这几家了
| z*********n
发帖数: 94654 | 8 还真是，我之前那个loan是boa，现在这个被卖到citi了
【在 b*d 的大作中提到】
: 现在我们的买家大部分是Citi和Wells了.
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