Conservative housing critic Ed Pinto and liberal consumer advocate Bruce Marks team up to design a new mortgage program for low-income borrowers.
Under normal circumstances, Marks told National Mortgage News that he would consider Pinto a nemesis, but they had a “meeting of the minds” when discussing the difficulties of homeownership for low-income borrowers. The result? A pilot program backed by Bank of America for a subsidized, 15-year loan product with no down payment or credit score requirement.
PB Topical Ref
