B of A to offer fixed-rate mortgages with a 3-year prepayment penalty

Prakash, Snigdha
December 1995
American Banker;12/18/1995, Vol. 160 Issue 242, p1
Trade Publication
Reports that Bank of America plans to offer fixed-rate loans with prepayment penalties in 1996. Loans to be securitized by the Federal National Mortgage Association (Fannie Mae) and eventually to be offered by Wall Street; Penalties to discourage consumers from refinancing their home loans for the first three years of the life of the loans.


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