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HUD Charges Bank of America with Discrimination

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  • Jonathan Blackwell | | 27 Feb 2012, 11:16 AM Agree 0
    Hits just keep on coming for BofA
  • Carolina Pascua | | 27 Feb 2012, 01:44 PM Agree 0
    Yes they really do that. When I was working with Bank of America as a mortgage officer, the borrower was a disabled veteran and he had been receiving the income for over 10 years. At first they do not want to accept the income but i fought hard for the borrower to be approved. It took 60 days for the mortgage to be processed. I thought it was a slam dunk mortgage. Good for BOfA. It is about time.
  • Andrea | | 27 Feb 2012, 04:25 PM Agree 0
    BofA is certainly not the only lender to require letters from physicians. I can give them Department of Justice a list of other lenders if they'd like.
  • Hwidi | | 28 Feb 2012, 06:39 PM Agree 0
    Proof of continuance of income for three years is a standard FHA requirement on all SSI/SSA income- foster, child support, alimony etc.too. Just had an FHA mortgage today with the same SSA condition and not BofA. I've been originating FHA mortgages for over 20 years and it's a standard condition. You can bet if the proof of continuance isnt in the file, it won't be insured post closing by HUD.
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