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Justin W. Ri…, Real Estate Pro in Kirkland, WA

I've heard a "RUMOR" that Bank of America has pulled out from backing FHA 203K rehab loans. Anyone else hear of this?

Asked by Justin W. Richards, Kirkland, WA Tue Oct 11, 2011

I know that other large institutions are still backing this program but with a powerhouse like BofA, it raises the question.... "why?"

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4
I believe the root of this may be tied to select correspondent lenders both locally and on the national level.
0 votes Thank Flag Link Tue Oct 11, 2011
The only thing I've heard thus far is they aren't brokering any loans
0 votes Thank Flag Link Tue Oct 11, 2011
The Bank of America lender in my office says he is still lending on these loans as we speak. I think the rumor is false.
0 votes Thank Flag Link Tue Oct 11, 2011
Not that I know of. I just went to a BoA class on this back in August.
0 votes Thank Flag Link Tue Oct 11, 2011
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