Thanks for the info!

Not to be a skeptic but, What proof do you have? I hear rumors all day long and would like to know whether its true or not. I couple of people said they received emails but you never know!

Repost this information if it comes true.  Thank you very much,

J.

Nick,

I just forwarded the e-mail to you.

Check out the Implode-O-Meter

http://ml-implode.com/

Thanks for the info Chris. It popped up here as well.

 BOA

Bank of America Corp. on Oct. 24 announced 3,000 layoffs, 700 of which are tied to the Charlotte, N.C.-based bank's decision to cease originating loans through mortgage brokers by the close of this year. In addition to pulling out of the wholesale mortgage arena, the nation's second-largest bank said it will eliminate jobs in its struggling global corporate and investment bank. In the third quarter, the company watched its income drop 32 percent, with earnings from its global corporate and investment bank down 93 percent.

Yeah, this is a shame.. believe it or not, I was consoling a buddy of mine with a beer and Pizza when we saw that on CNN.. He had just lost his job at a prominent national title insurance company... Nick, you know of them well I am sure.. GAC (Fiserv)

My question is simply what does this mean to the future of the mortgage industry?  Is this a view into the future or is it simply a temporary realignment? 

Thanks for you for taking the time to comment on this subject in the Active Rain network.  AR is the new "cyber backbone" of the industry, and with it's uplink to Localism.com it is transforming the real estate marketplace. Agents who don't see which way the cyberwind is blowing are going to find themselves at a considerable disadvantage inside of three to five years.

thanks chris, but I do not do business with Bank of America anyway.  They give credit cards to illegal aliens.