The subprime fallout has led to a renewed interest in FHA and VA loan products, prompting Bank of America to create a new division that will support 150 jobs in Dallas, Texas. The employees staffed in these positions will handle fulfillment operations related to government loans.

In a press statement, Bank of America said it will open its “second fulfillment center for government loan processing” in the Big D, offering jobs to 150 associates that previously supported the bank’s wholesale fulfillment operations.
“We will leverage the knowledge and skill of our Dallas-based wholesale associates to help the bank manage the strong growth in demand for FHA and VA loan products,” said Bob Griffith, Bank of America Fulfillment executive. “Texas is our strongest market for government loan programs, and we are thrilled to have the opportunity to grow our business there.”
Bank of America says market turmoil related to the subprime fallout prompted today’s renewed interest in government loan programs.
“The dislocation in the subprime market has sparked renewed enthusiasm for FHA and VA loan products across the nation,” said Allen Jones, Bank of America’s Government Lending executive. “Government loan programs provide many borrowers with benefits over other programs since the loans are insured by FHA or guaranteed by the VA.”
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