| Author |
Previous Topic | Next Topic |
|
blaster
65 Posts |
 Posted - 05/02/2008 : 09:20:31 AM
|
| An account rep from Fifth Third just told me Countrywide is shutting down. I know its not a confirmation but what is she referring to ? |
|
hoangad
2937 Posts |
Posted - 05/02/2008 : 09:21:00 AM
|
| she just wants you to submit your loans to her. duh!!! |
|
|
blaster
65 Posts |
Posted - 05/02/2008 : 09:21:37 AM
|
| I do anyways LOL |
|
|
hoangad
2937 Posts |
Posted - 05/02/2008 : 09:25:33 AM
|
| is she hot? |
|
|
500fiko
167 Posts |
Posted - 05/02/2008 : 10:02:35 AM
|
| my Countrywide rep told me Fifth Third was shutting down. wierd |
|
|
katroberts
1251 Posts |
Posted - 05/02/2008 : 10:03:39 AM
|
From Countrywide:
Dear Valued Business Partner:
Thank you once again for your valued business and continuing support of Countrywide®, America's Wholesale Lender®. Despite the widespread change that our industry has faced over the past year, one thing remains constant – Countrywide's commitment to providing responsible lending solutions to ensure that more Americans have the opportunity to achieve and preserve homeownership.
Optimizing Our Business Model
Consistent with modifications that we have made in the past to evolve the scale of our organization to the changing lending environment, we continue to focus on optimizing our business model for long-term success. As a result, we announced earlier today that we are adjusting our loan fulfillment operations as follows:
• Effective immediately, 16 of our loan fulfillment locations will be migrated into our remaining distributed fulfillment network comprised of 26 Wholesale Fulfillment Centers.
• Our Sales Management and Account Executives will continue to be located in the impacted markets to help ensure that we retain our local presence and uphold our commitment to serving our Business Partners and mutual borrowers within those markets.
• Dedicated fulfillment teams have been added to the remaining fulfillment center locations to provide immediate support for our Business Partners and Account Executives in the impacted markets.
It is important to note that many of our Business Partners will not be directly impacted by these changes. If you are impacted by this move, however, a follow-up communication will be sent to you shortly with detailed information on your new loan fulfillment location and team members. In addition, you may log on to cwbc.com to view a list of the impacted loan fulfillment sites along with the corresponding new fulfillment locations and contacts.
If you are currently served by one of our consolidating fulfillment locations, I assure you that we are taking measures to quickly and carefully migrate loan files in progress to your new loan fulfillment team. Your Account Executive and your new loan fulfillment team are standing by, ready to assist you with both existing and new loan submissions.
Committed to Your Success
The consolidation of these fulfillment locations enables us to better serve our Business Partners and mutual borrowers under a more efficient and sustainable loan fulfillment operating structure.
Though these changes are necessary to optimize our business model, I can assure you that they do not alter our focus on homeownership or our commitment to your success.
Thank you once again for choosing Countrywide.
Todd A. Dal Porto
Senior Managing Director and President
Countrywide, America's Wholesale Lender
________________________________________
Equal Housing Lender. ©2008 Countrywide Bank, FSB, Countrywide, America's Wholesale Lender Division. Member FDIC. Trade/service marks are the property of Countrywide Financial Corporation, Countrywide Bank, FSB, or their respective affiliates and/or subsidiaries. Some products may not be available in all states. This is not a commitment to lend. Restrictions apply. All rights reserved.
Provided to mortgage professionals for information only and not intended or authorized for consumer or public distribution.
UNSUBSCRIBE
We are pleased to present you with this advertisement. If you wish to Unsubscribe from future email messages containing similar product/pricing information, please reply to this message with the word Unsubscribe as the subject line or send requests to Countrywide C/O Premiere Global Services 100 Tormee Drive Tinton Falls, NJ 07758 Attn: List Department.
Privacy Policy https://www.cwbc.com/Privacy_Policy.htm
|
|
|
500fiko
167 Posts |
Posted - 05/02/2008 : 10:08:40 AM
|
Fifth Third Says ‘No Way’ to Alt-A
Published by Morganat May 2, 2008 in Mortgage News/Insight.
Tags: No Tags.
If you're new here, you may want to subscribe to my RSS feed. Thanks for visiting!
A new memo from Fifth Third notifies recipients that effective immediately (with a little time to fund the existing pipeline) that the bank is out of the Alt-A business entirely. And in a refreshing turn - all sales channels are affected. Retail and wholesale alike will lose Alt-A products previously offered by the “super-regional” bank.
Here’s a copy of the announcement:
Important Announcement
Please circulate as appropriate
BULLETIN
Announcing Alt A Lending Program Discontinued
Effective In All Channels
To: All Mortgage Sales and Operational Personnel
Fifth Third Mortgage is announcing they are discontinuing offering Alt A lending programs in all Channels.
What needs to happen in managing your pipeline:
Retail/Direct:
All Alt A applications in the pipeline dated on or before Monday May 5, 2008, must be locked by close-of-business Monday May 5, 2008 by 5PM Eastern Standard Time.
All loans must be closed by May 23, 2008
Wholesale:
All Alt A applications in the pipeline must be registered and locked by close-of-business Friday May 2, 2008, by 5PM Eastern Standard Time.
No registrations will be accepted after 5PM Eastern Standard Time, May 2, 2008
All loans must be closed and funded by May 23, 2008
NO EXTENSIONS WILL BE GRANTED TO CLOSE/FUND BEYOND MAY 23, 2008 (ALL CHANNELS)
Thank You,
Fifth Third Mortgage Company
so far today: Countrywide 1, Fifth Third 0 |
|
|
blaster
65 Posts |
Posted - 05/02/2008 : 10:15:58 AM
|
Way to go Grant money- where would we be without you
FW: Correction, CW just is moving there location, sorry. "you can still send me deals though". Sorry for the confusion--
From the 5-3 rep |
|
|
| |
Previous Topic | Next Topic |
|
|
|
Search for: 
