BofA Says Obama Refinancing-Plan Details Trouble Home Lenders

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Bank of America Corp., the largest mortgage servicer, said lenders will meet with the overseer of Fannie Mae and Freddie Mac to discuss last month’s revamp of the federal Home Affordable Refinance Program, which originators view as containing unexpected details that impair the effort.

The Federal Housing Finance Agency has “called us all back next week to talk,” Vijay Lala, who manages HARP for Bank of America as a mortgage-products executive, said yesterday. “There were some things in there that we didn’t think were going to happen, that are making it more operationally difficult to implement. They threw some curveballs at us.”