The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: ChanceIs who wrote (70669)	1/24/2007 12:19:47 PM
From: mishedlo	Read Replies (2) of 306849

As part of its push to overcome the stiffest headwinds facing banks, Bank of America said it is considering expanding a pilot program offering no-fee mortgages nationwide. In the fourth quarter, a free stock-trading offer led to a 54% jump in the number of brokerage-account openings, compared with the third quarter. Tom Wurtz, Wachovia's chief financial officer, said the bank will be helped by its limited exposure to borrowers with poor credit histories and heavy concentration in growing markets on the East Coast, California and Texas. Message 23215066 Is this really anything new? I had several refinancings over the years were I did not pay a dime in fees. Of course it was reflected in the rate. Is BAC talking about wrapping fees up in the rate or really eliminating them. If the latter what does that do to originators? Mish

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