American Banker, September 2, 2022, Bank Of America Aims Mortgages, CRE Loans At Women And Minorities
Two new Bank of America lending programs seek to promote homeownership among minority borrowers as well as incentivize economic development in disadvantaged communities.
One is a pilot program that would offer mortgages to Black and Hispanic Americans using rent, utility and auto-insurance payment histories instead of traditional credit scores, BofA said in a news release Tuesday. The other is a down-payment relief program for women- and minority-owned small businesses that buy commercial real estate in federal opportunity zones.
