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JPalmer_
51 Posts |
 Posted - 07/01/2008 : 08:15:08 AM
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...with Bank of America's official acquisition of Countrywide and subsequent plans to divest itself from the wholesale lending business, we will see permanent and fatal ramifications throughout the mortgage broker world.
Not only will the largest wholesale lender (CW) be laid to rest but all of the CW warehouse lines that so many other lenders depend on will be closed. The result may be a domino effect that essentially ends wholesale lending as we know it. I hope this is not the end of the mortgage broker but it might be. |
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williamspeaking
4058 Posts |
Posted - 07/01/2008 : 08:18:36 AM
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| i love when people jump to conclusions. I think you'd be shocked at how many wholesale lenders dont use CW on ANY of their lines... |
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CoralSnake
10880 Posts |
Posted - 07/01/2008 : 08:20:20 AM
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| I havent heard of anyone using CW lines in a loooooong time. |
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CoolMtgGuy
3704 Posts |
Posted - 07/01/2008 : 08:23:21 AM
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I'm confused.
You posted in another thread that people would be surprised how many wholesale lender have warehouse lines with CW. Here you posted the opposite. What gives?
Isn't your company one that uses a CW line?
quote:
Originally posted by williamspeaking
i love when people jump to conclusions. I think you'd be shocked at how many wholesale lenders dont use CW on ANY of their lines...
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CoolMtgGuy
3704 Posts |
Posted - 07/01/2008 : 08:24:47 AM
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How would you have heard that anyway? How many wholesale lenders publish their list of warehouse line sources to you?
quote:
Originally posted by CoralSnake
I havent heard of anyone using CW lines in a loooooong time.
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JPalmer_
51 Posts |
Posted - 07/01/2008 : 08:33:52 AM
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quote:
Originally posted by williamspeaking
quote:
Originally posted by gsgroupinc
quote:
Originally posted by Drigotas
quote:
Originally posted by gsgroupinc
I am just glad to see CW gone
Why?
Even if you thought CW was lousy, losing another source of wholesale money is not good for brokers.
Truly have not used them in a long time.
Maybe not directly, but you might be surprised to find that some of your wholesalers use a CW line.
williamspeaking : flip flopper |
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williamspeaking
4058 Posts |
Posted - 07/01/2008 : 08:33:58 AM
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quote:
Originally posted by CoolMtgGuy
I'm confused.
You posted in another thread that people would be surprised how many wholesale lender have warehouse lines with CW. Here you posted the opposite. What gives?
Isn't your company one that uses a CW line?
quote:
Originally posted by williamspeaking
i love when people jump to conclusions. I think you'd be shocked at how many wholesale lenders dont use CW on ANY of their lines...
Actually what I said in the other post was that the original poster may be not be aware that some of his wholesale lenders may use CW and that would directly affect him.
We do not use a CW line. |
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CoolMtgGuy
3704 Posts |
Posted - 07/01/2008 : 08:40:18 AM
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Thanks for clarifying ... my bad. And I think that you are right that originators may not know where there deals' funding is really sourced.
quote:
Originally posted by williamspeaking
quote:
Originally posted by CoolMtgGuy
I'm confused.
You posted in another thread that people would be surprised how many wholesale lender have warehouse lines with CW. Here you posted the opposite. What gives?
Isn't your company one that uses a CW line?
quote:
Originally posted by williamspeaking
i love when people jump to conclusions. I think you'd be shocked at how many wholesale lenders dont use CW on ANY of their lines...
Actually what I said in the other post was that the original poster may be not be aware that some of his wholesale lenders may use CW and that would directly affect him.
We do not use a CW line.
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