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BofA Stops Selling Loans to Fannie Mae

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pipeguy
Senior Contributor

BofA Stops Selling Loans to Fannie Mae

http://finance.yahoo.com/blogs/daily-ticker/bofa-stops-selling-loans-fannie-mae-first-step-184033379...

 

From the story: "The practical implications of this decision is it will be harder for consumers to get a home loan from Bank of America, which has already stopped buying loans from third-party mortgage lenders. Citigroup is moving in the same direction, according to a source in the mortgage industry. While other banks -- like Wells Fargo (WFC), Sun Trust (STI), BB&T (BBT) and US Bancorp (USB)-- are stepping into the void, the decisions by BofA and Citi (C) are exacerbating the problems many Americans are having trying to secure a loan, even those with good credit scores and money for down payments. "

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