The problems at Bank of America have cut down its mortgage ambitions; it accounts for 4 percent of the nation’s mortgage market, a slide from just over 20 percent in 2009, ceding market dominance to Wells Fargo and JPMorgan Chase.
This IS important stuff for potential home buyers to watch! If the availability of WHERE you can get a mortgage decreases, certainly the COST of getting the mortgage will go up….I think it’s called Supply and Demand. Not to mention, lenders could become even MORE selective in giving loans! Moral to the story….BUY NOW!
See on dealbook.nytimes.com