Oct

25

Bank of America Will Cease ALL Wholesale Business - I wonder what went on at the big three meeting last week?

Filed Under Bank Of America, Lenders With Problems 2007, Mortgage Layoffs, Mortgage News 
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It has come to my attention that Bank of America will be ceasing all wholesale business as of December 31, 2007 and will no longer be accepting any new loans as of mid-November.

Be advised that if you already have files with Bank of America they will be honored, however please refrain from sending them any new files. Unfortunately a specific reason was not given at this time as to why they have decided to close down their wholesale division. We are saddened by the news as we have maintained an excellent relationship with Bank of America over the years.

We will keep you advised of any further updates we receive.

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