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January 15, 2014

Bank of America Suffers 45 Percent Decline in Originations, But HELOC Volume Rises

By Paul Muolo

According to the bank’s fourth quarter earnings statement, 68 percent of its originations were refis – the mirror image of Wells Fargo, which had 68 percent of its production in purchase-money loans.

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Poll

HUD has announced a 25 basis point cut in FHA premiums, which is slated to take effect in late January. Is your lending shop for or against a cut in FHA premiums?

For. It should help lending volumes.
Against. The private MI sector should take on this risk, not the government.
Too early to say.
I believe the new White House may scuttle the idea so it doesn’t matter.

vote to see results