Blown Mortgage

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I found this on www.housingwire.com.

Bank of America’s overall first mortgage funded production increased 27 percent in the third quarter of 2007 when compared with the same period last year. Driving that overall increase was a 60 percent spike in funded mortgage originations through banking centers and a 26 percent increase in funded originations by mortgage loan officers.

So why do you think that is?   My take on it?  All of the stress and bad press that the mortgage world is receiving is pushing people toward the “perceived” safety of the “big” banks……

Last 3 posts by Tom

• A Few Thoughts on Yesterday's Market.... - January 24th, 2008
• The Fed - January 22nd, 2008
• Week in review.... - January 19th, 2008