Bank of America won't loosen mortgage credit for riskier borrowers

Government efforts to loosen access to mortgage credit are unlikely to goad Bank of America Corp to make more home loans to less creditworthy borrowers, the bank's chief executive said on Wednesday. “I don't think there's a big incentive for us to start to try to create more mortgage availability where the customers are susceptible to default,” Moynihan said.

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Bank of America won't loosen mortgage credit for riskier borrowers