Bank of America Exits First Mortgage Wholesale BusinessThe National Association of Realtors® reported that on October 5, 2010, Bank of America (BofA) announced it has decided to stop using the first mortgage wholesale channel (the direct mortgage broker to BofA channel), which has constituted about 5% of its business.Instead, BofA will focus on its direct to consumer retail channel and also allocate more resources to servicing. BofA will continue to purchase and finance loans from their correspondent lending clients, including those approved to originate loans from mortgage brokers.Read the Bank of America Press Release.October 20 2010 - US00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.