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Bank of America Resumes Offering Fixed-Rate Reverse Mortgage Loans in Illinois

Bank of America Resumes Offering Fixed-Rate Reverse Mortgage Loans in Illinois

reversemortgageguides.org - 4 weeks ago - 31 views

Bank of America announced this morning that it is resuming offering fixed-rate reverse mortgage loans in Illinois. The news is welcome to many lenders after Bank of America worried its fixed-rate loans did not comply with Illinois High Risk Home Loan Act (HRHLA) and many other lenders also pulled their fixed rate products out of the state.

Note: Source is an industry press release. Quoted, but not able to release copy to general public in terms of release.

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