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Wachovia Looking to Pull Back on Option ARMs: Report 

Apr 03, 2008By

A lender memo sent out earlier in the week by Wachovia Corp. announcing that it would no longer offer its infamous Pick-A-Payment loans might have been premature, but sources told Housing Wire on Thursday that it’s only a matter of time before the Charlotte, NC-based bank pulls the plug on its Option ARM product in key California counties.

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