Bank of America's top mortgage executive, Barbara Desoer, says the depository will remain in warehouse finance, even though many of its competitors are leaving the niche.In an interview with National Mortgage News, Ms. Desoer said BoA likes the warehouse lending business, has no plans to exit, but also is in no hurry to grow its current business either. "We're getting lots of inquiries about warehouse," she said, "but we're not going to bolster it. We'll do it for the right kind of clients." Scott Stern, president of the Lenders One mortgage banking alliance said BoA's Countrywide unit has expanded credit to some of its existing customers. "One member told us Countrywide saved their life," he said.
Processing Content