Moynihan: BofA not about to lower mortgage standards

• The FHFA wants to ease lending standards - allowing down payments of as little as 3% - but Bank of America (NYSE:BAC) won't be playing along, says CEO Brian Moynihan, speaking at a BAML conference.
• Webcast replay
• "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," he says, and those who can't come up with at least a 10% down payment should probably consider remaining as renters. "You won't see us start to expand our criteria much past what we've done today."
• Given the shell-shock from the unceasing legal assault and put-back demands, can BofA or any other lender be blamed?