Countrywide tries to assuage broker fears with latest email

In the latest broker letter from Countrywide attempts are made to reduce anxiety building in the broker community about the onslaught of bank closures and strategic changes away from the wholesale and correspondent lending models.  Clearly with WaMu shuttering correspondent lending, and lots of chatter about the need to improve quality by focusing solely on retail origination, brokers are rightfully worried about their place in the industry when all is said and done. From Countrywide:  Dear Business Partner: As we continue to adapt to challenges in the mortgage market, this communication is the second of a series from Countrywide®, America's Wholesale Lender®. In these ongoing communications, my goal is to present open and direct assessments of the current state of wholes