No down-payment, no problem: BoA underwriting $10B in subprime mortgages

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  • No down-payment, no problem: BoA underwriting $10B in subprime mortgages
    No down-payment, no problem: BoA underwriting $10B in subprime mortgages

    (Credit: Flickr, Mike Mozart) Bank of America is giving out $10 billion in mortgage commitments to borrowers with non-traditional backgrounds at a series of events across the country. The fixed-rate loans for 15- or 30-year terms carry an interest rate of about 4.5 percent and approved borrowers put no […]

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