With so much happening in the lending sector today, it can be hard to keep up. One thing that has not been missed is the recent acquisition of Countrywide by Bank of America. Quite readily we can imagine how this benefits the giant Bank of America. But how does this acquisition translate into benefits for the consumer?

1. Broader mortgage capablities will be available to consumers in both retail and wholesale loans.

2. Consumers will gain access to an increased amount of consumer products including credit cards.

3. Bank of America has stability as one of the world's largest financial institutions, therefore, easing concerns for consumers surrounding recent bank fall-outs.

4. Bank of America has a policy of "no price gouging." Overages that cost consumers are not allowed.

5. Bank of America can still do loans up to $3 million, unlike some other mortgage lenders.

6. Bank of America has specific programs dedicated to helping civil workers, teachers and people in the medical field.

7. With more and more loans being FHA, there are three entire units dedicated to working solely on government loans.

Yes, the big boys have come to town and they are here to stay. But if they offer big benefits to consumers, then why not embrace them?