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Loan Modification

: Mortgage Lender Implode-o-Meter

Bank of America to Exit Reverse Mortgage Business

By Implode-Explode Heavy Industries

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"Bank of America told employees it?s leaving the reverse mortgage business on Friday.

The company left the ?forward? wholesale business last year, but at the time, told RMD it remained committed to the reverse mortgage wholesale channel. Rumors began swirling early Friday and RMD confirmed with several people within the company that it?s leaving all channels (wholesale, correspondent, retail)."

Full post as published by Mortgage Lender Implode-o-Meter on February 04, 2011 (boomark / email).

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