Some Lenders Not Quick to Jump on New 3% Down Program

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December 11, 2014

The FHFA said that “it is too early to tell [which lenders] will be offering it,” during a call over the announcement of 3-percent down mortgages earlier this week, HousingWire reports.
 
As an example of how the industry is divided, HousingWire reports that Bank of America is not offering these mortgages, but nonbank lenders AMCAP and Guardian Mortgage Company are. Wells Fargo told HousingWire that it is currently in the process of examining the new products.
 
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