Bank of America, Broker Back Revival of Subprime Mortgage Market
UPI, Oct. 22, 2018–Daniel Uria
Specifically, the groups are offering the loans to buyers with poor or rehabbing credit, which was one of the issues that contributed to the last meltdown — buyers who couldn’t afford the mortgages they had. Bank of America and NACA, though, say they have a vetting system in place to help prospective home buyers who shouldn’t be excluded by credit score alone.
