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Hat tip to good friend of Blown Mortgage, Chris, for sending this along:
US Bank is eliminating its 100% financing product on the wholesale channel as of tomorrow.
No word on whether this is a regional or nation-wide change nor if it’s been eliminated from the retail channel.
Countrywide out of Option ARMs, 100% disappearing. We’re definitely in another tightening cycle.
If you have any additional information send it along!
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