Bank of America could repurchase bad loans
8/11/2011CHARLOTTE — 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.