Bank of America and CW Update

Bank of America doesn’t like the mortgage industry business model. So maybe they’re not as interested in the Countrywide deal:

Bank of America CEO casts doubt on Countrywide deal - MarketWatch: “While Charlotte-based Bank of America wants to sell more mortgages, Lewis said, the company isn’t attracted to the mortgage industry’s business model. ‘We like the product, but we don’t like the business,’ he said. He added that the bank is ‘not particularly interested’ in wholesale lending through outside mortgage brokers and bankers - an area where Countrywide has a presence. “

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