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What is Bank of Americas turnaround time for purchasing loans from lenders and pooling them into Mortgage Backed Securities or whole loan sales to the Trustee?

April 26, 2017America Bank lenders loan Loans mortgage backed securities pooling purchasing time turnaround

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What is Bank of Americas turnaround time for purchasing loans from lenders and pooling them into Mortgage Backed Securities or whole loan sales to the Trustee?

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Bank of America will review required documents and approve/decline the loan within 48 hours of receipt. Bank of America purchases loans daily from lenders. Loans will be purchased within three to five days of receipt from the lender. Purchased loans will then be pooled in Fannie Mae/GNMA/Freddie Mac Mortgage Backed Securities twice monthly as volume permits.