BOA taking over CW?? What are reps saying to every

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natetheskate

602 Posts

Posted - 06/26/2008 : 09:14:17 AM

Just curious about what is ahappening on the retail brokrage side of things... I work for a local bank and we are a correspondent lender and our rep is meeting with manegers today... Please post your thoughts as to what will happen as of 7/1/2008. Thank you,

sacramento

778 Posts

Posted - 06/26/2008 : 09:17:39 AM

Our rep says the 1st legal changes will be 7/1 and they will phase out the Coutrywide name completly by the 3rd quarter.

natetheskate

602 Posts

Posted - 06/26/2008 : 09:36:15 AM

TTT folks...

lukeallison

1399 Posts

Posted - 06/26/2008 : 09:40:13 AM

3rd quarter? My goodness. JP Morgan Chase took 2 years to phase out BankOne. Talk about having a bad stigma.

MacMortgage

70 Posts

Posted - 06/26/2008 : 09:44:08 AM

Our rep is also saying that more programs will come on line... which I think is a farce. BOA's CEO has stated repeatedly that they are updating their guidelines to be more conservative, so offering more additional "exotic" products to CWide wholesale seems like a stretch.

natetheskate

602 Posts

Posted - 06/26/2008 : 09:55:33 AM

still waiting to hear from ours...

natetheskate

602 Posts

Posted - 06/26/2008 : 10:04:54 AM

Come on people what do ya know...

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