Sunday, Jul 24, 2016
One of America's Great Newspapers ~ Toledo, Ohio

Economy

Bank of America could repurchase bad loans

CHARLOTTE — Bank of America Corp. could repurchase up to $62.2 billion in bad home loans, according to a new report from Compass Point Research & Trading LLC.

The report is the latest effort by analysts to figure out how much the bank might lose from bad mortgages it acquired when it bought Countrywide Financial Corp. in 2008. Mortgage losses have battered the bank and analysts fear trouble with home loans could force Bank of America to raise more capital.

Compass Point believes BofA could be forced to repurchase between $28.4 billion and $62.2 billion in mortgages.

Click to comment

Quis autem vel eum iure reprehenderit qui in ea voluptate velit esse quam nihil molestiae consequatur, vel illum qui dolorem?

Temporibus autem quibusdam et aut officiis debitis aut rerum necessitatibus saepe eveniet.

Copyright © 2015 Toledo Blade

To Top

Fetching stories…