Major Mortgage Lender on Government’s Encouragement to Loosen Standards: No, Thanks
While the government is seeking to make lenders more comfortable by expanding their offerings to boost homeownership, Bank of America's CEO says his bank, a top five mortgage lender in the nation, has little incentive to open up low down-payment options. Consumers who can't come up with the down payment should consider renting instead of buying. [11/13/14]