Lowered it’s credit score needed to obtain a mortgage to 580. However, I have searched and have not been able to find any information confirming this. The only article I did come across was an article stating that Bank of America lowered its credit card fees. I found the article on dailydollarnewsletter.com’s website. The article link is below so you can check it out for yourself.
This is certainly a good thing and Bank of America should lower its fees in my opinion because they, like all other banks, charge too much for these type of fees and I for one commend them for that decision. Also, I don’t know if Bank of America actually lowered their score for obtaining a mortgage to 580 so I would suggest anyone wanting to confirm that to call them and speak to a Vice President or other higher executive to confirm or deny.