WAMU no longer doing wholesale loans, all of their brokers have been laid off.

First Horizon, Countrywide, and many others are no longer doing HELOC's (Home Equity Lines of Credit, also called 2^nd's as in second mortgages, got it?  ;-)   I recognize that I get verbose in my explanations!

Both of those companies (and others) have frozen their current HELOC's, two of my closest friends and property owners have been ‘locked out' of their HELOC's whereby they can no longer draw money from it, guess it pays to completely pull out all of your equity if you have a current HELOC and still can.

Should you need to originate a new 2^nd/HELOC, the best options are BECU (Boeing Employee's Credit Union) and Key Bank.  Get ‘em while you still can!

As I have likely reiterated here before the stats are that buyers who a year ago, could have bought a home no problem, now have no way to obtain a feasible mortgage which is the number one reason I believe there has been any stall in our market.  Our homes are still selling, just - not - quickly.