BofA waives private mortgage insurance on 'no-fee' loan
Consumers may find loan hard to measure against others
By Matt Carter, Sunday, May 6, 2007.Bank of America is expanding the definition of "no-fee" mortgage loans with a product that pays lender fees and doesn't require private mortgage insurance for those who want to put as little as 5 percent down on a home purchase.
"There is no catch, and there are no surprises" to the loan, which can save borrowers more than $3,000 in fees on a $200,000 loan, BofA officials said Monday as they
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