I think this is a clever marketing ploy to boost BofA’s risk/reward ratio, while sending out positive vibes.
If they focus on refinancing people with sufficient assets they will have effectively moved many people out of their original purchase loan (non-recourse debt) into a refinance loan (recourse debt) and will have improved the risk profile of their debt (assuming they refinance some of their own customers).

Rest assured that they are not doing this out of the goodness of their hearts. However, it may be beneficial to some customers.

By the way, I also am a BofA stock holder. I started nibbling a month or so ago when the stock was below 49.