What We're Hearing

We have us a refi boom, indeed. At least that's what it looks like if you gauge the first quarter origination figures released thus far by the nation's mega lenders: Bank of America, JPM Chase, and Wells Fargo. But how's the wholesaler/broker market holding up? How is it being in the trenches for the nation's remaining independent loan brokers, a group whose future looks less than rosy? One broker we interviewed recently said he's considering changing jobs to become a retail LO. This broker, who requested anonymity, gave us his perspective on dealing with Bank of America's wholesale department: "Their rates are simply not competitive. I have at least 20 other wholesale lenders that will offer my borrowers better terms. Their warehouse/correspondent rates are just as bad." This broker didn't want to be quoted because he still might use BoA and is on its "approved list"…