FHFA announces 2016 conforming loan limits

FHFA announces 2016 conforming loan limits

Much of U.S. left unchanged; limits increase in 39 ‘high-cost’ counties

Game changer? Quicken Loans takes mortgage lending fully digital

Launches Rocket Mortgage

Google launches mortgage comparison tool with Zillow

LendingTree will also bring mortgages to Google

Do home buyers need mortgage brokers?

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On Tuesday, Bank of America Corp. exited the wholesale mortgage lending business, limiting its dealings with mortgage brokers to focus on loans made directly to consumers and community banks. Some fear the move will leave fewer options for home buyers as they shop for the most competitive mortgage rates. Essentially, BofA’s decision means that Wells Fargo & Co. is the only major bank that’s willing to buy loans from mortgage brokers. Last year, JP Morgan Chase & Co. said it would no longer purchase loans originated by brokers, noting in an internal memo that loans originated by Chase professionals are less likely to default.

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