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By Kate Berry
SEP 25, 2009 6:30pm ET

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GMAC Makes Move in Correspondent Channel
SEPTEMBER 28, 2009

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Mortgages' Big Two Are Too Big to Avoid

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The crisis and consolidation in banking have given Wells Fargo & Co. and Bank of America Corp. an unprecedented share of the mortgage market and new clout in their business relationships.

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What the Mortgage Settlement Means to Banks
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The $25 billion mortgage robo-signing settlement is:
Political extortion from the banks in an election year
A slap on the wrist — the banks put reserves away for this long ago, they won't even feel it
A source of relief for both banks and homeowners that could help the housing market and economy recover

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