BB&T Opts Out Of VA And FHA ARMs

Branch Banking & Trust (BB&T) is no longer lending adjustable-rate mortgages (ARMs) that are insured by the Federal Housing Administration (FHA) or tied to the U.S. Department of Veterans Affairs (VA) loan guaranty home loan program.

‘At BB&T, we consistently evaluate our product line and make adjustments based on clients' needs,’ according to a statement from the bank. ‘In this evaluation process, we found the FHA and VA adjustable rate mortgage product to be a very-low-volume product and have taken it off our list of offerings.

SOURCE: BB&T

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