Tuesday, July 22, 2008

The Ever Changing Landscape

Wachovia has announced their intention to discontinuing their use of mortgage brokers effective July 25. Mortgage applications will only be accepted at one of their retail branch locations.

Wachovia is now added to the list along with Bank of America (soon to include Countrywide) and National City as major South Florida banks to only offer retail mortgage lending.

Congress is close to finalizing the “foreclosure” legislation. As soon as we get more information on that, we will pass it along to you.

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