Bank of America has introduced a new type of home loan that underscores its pullback from making similar mortgages insured by a government agency that has won large settlements from big banks. The loan, announced this week, allows low and moderate income borrowers to make down payments of as little as 3 percent, less than the 3.5 percent minimum required for loans insured by the Federal Housing Administration.
Bank of America has introduced a new type of home loan that underscores its pullback from making similar mortgages insured by a government agency that has won large settlements from big banks. The loan, announced this week, allows low and moderate income borrowers to make down payments of as little as 3 percent, less than the 3.5 percent minimum required for loans insured by the Federal Housing Administration. John Taggart Bloomberg
Bank of America has introduced a new type of home loan that underscores its pullback from making similar mortgages insured by a government agency that has won large settlements from big banks. The loan, announced this week, allows low and moderate income borrowers to make down payments of as little as 3 percent, less than the 3.5 percent minimum required for loans insured by the Federal Housing Administration. John Taggart Bloomberg
Bank Watch

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News and notes on Charlotte's banks and the financial industry

Bank Watch

BofA’s new mortgage program avoids federal agency that has won big fines from banks

February 25, 2016 3:14 PM

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