by Calculated Risk on 4/22/2008 11:04:00 AM

From Reuters: Bank of America-Countrywide to curb risky mortgages

Bank of America said on Tuesday it plans to stop offering some riskier mortgage loans after it finishes buying Countrywide... the combined businesses will not offer "option" adjustable-rate mortgages ...

It also plans to "significantly curtail" other non-traditional mortgages, including some loans that don't require borrowers to fully document income or assets.

I'm a little surprised they are still offering Option ARM and stated income loans now.