Lehman exiting wholesale channel....

Lehman exiting from the wholesale channel is a big blow for the Alt A marketplace. They had been one of the last Alt A players standing. They had many niche products particularly for HNW borrowers. Earlier this week Chase pulled most of their ALT A products and Wells has been out of the market for some time as well. Any deal that is is not a Freddie, Fannie, FHA or very clean jumbo is not going to get done. The exiting of these lenders will make a rebound in the housing market and the economy very hard to come by....