Today's Fresh Blogs...

• Impac exits wholesale lending

  Published: August 27, 2007, 5:39 pm

  Tags: Mortgage News Insight, Brokers, Impac, Ml Implode Com, Wholesale Lending

  has decided to exit the wholesale lending arena. They are keeping a small internal retail operation; but have ceased doing business via the broker channel. This report is courtesy of the ml-implode.com premium email service; which I highly recommend subscribing to if you are interested in the latest news in the mortgage industry. There

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• Countrywide tries to assuage broker fears with latest email

  Published: September 14, 2007, 12:42 am

  Tags: Mortgage News Insight, Broker, Correspondent, Countrywide, Wholesale Lending

  , America’s Wholesale Lender . In these ongoing communications, my goal is to present open and direct assessments of the current state of wholesale lending, and the measures we can take collectively as originators and lenders to successfully evolve the wholesale lending channel. My first communication in this series,

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• Countrywide Continues to Try to Calm Nervous Brokers

  Published: October 1, 2007, 5:16 pm

  Tags: Mortgage Musings, Countrywide, Mortgage Brokers, Mortgage Market Meltdown, Wholesale Lending

  to all of us in the wholesale lending channel lenders and brokers alike as our industry adapts to the new realities of the current market environment. With a shared goal of revitalizing the wholesale lending channel, we can and must work together to strengthen customer loyalty and enhance your prominence as a trusted advisor.

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• Bank of America Exits Wholesale Lending For Now??

  Published: October 25, 2007, 11:32 pm

  Tags: Mortgage News Insight, Bank Of America, Bofa, Countrywide, Wholesale Lending

  Bank of America is exiting wholesale lending at the end of the year. They will accept loans from brokers until 11/25 which must close by 12/31. From the web site (here’s a link to the PDF of the announcement): Important Announcement Today Bank of America announced that it will exit the wholesale mortgage business in order to devote

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• IndyMac Tightens Screws on Brokers

  Published: November 5, 2007, 11:46 am

  Tags: Mortgage News Insight, Brokers, Indymac, Wholesale, Wholesale Lending

  up standards on its wholesale partners it is most likely in response to conversations had with investors on the securitization side about pricing and quality. If investors are asking for more stable wholesale originators with a few areas tightened up in terms of who sends loans via wholesale it means they are still willing to buy

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• IndyMac Posts $200 Million Quarterly Loss

  Published: November 6, 2007, 12:14 pm

  Tags: Wall Street, Mortgage News Insight, Brokers, Earnings, Indymac, Option Arms, Wholesale, Wholesale Lending

  a significant retail lending presence by hiring roughly 1,400 professionals and opening over 100 new offices in just the past quarter. Year-to-date we have greatly restructured our overall workforce and sharpened the point of our spear' by increasing our percentage of direct revenue generating staff from 32

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• IndyMac Reaches Out to Brokers to Calm Nerves

  Published: November 9, 2007, 8:00 pm

  Tags: Mortgage News Insight, Brokers, Indymac, Wholesale Lending

  retail production, cuts wholesale availability and is clearly at the whims of the market (Perry even said he had no forecast for quarter 4) when it comes to making predictions about the future of the wholesale channel. I hope I’m wrong and that wholesale lending will live on in full force; but the wind just seems to be blowing the

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• What if Countrywide Went Under Tomorrow?

  Published: January 10, 2008, 12:27 am

  Tags: Wall Street, Mortgage News Insight, Correspondent Lending, Countrywide, Countrywide Bankruptcy, Meltdown, Wholesale Lending

  the broker originations as wholesale lending through either Countrywide directly or through another bank relying on Countrywide funds as part of its wholesale funding strategy would evaporate or suddenly fall in to limbo. The wholesale channel is huge. The meteor that killed the dinasours If Countrywide goes thousands of lending institutions

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• Countrywide Scaling Back Wholesale?

  Published: February 21, 2008, 4:48 pm

  Tags: Mortgage News Insight, Countrywide, Wholesale, Wholesale Lending

  tethered to Countrywide Wholesale need to be aware of. Clarion, a company that delivered over $100 million to Countrywide through the wholesale channel last year was axed from the wholesale program for alleged poor loan performance. Clarion still maintains its relationship with Countrywide Correspondent. Below is the email from the

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