11/23/2010

Based on testimony in a recent lawsuit, Bank of America might be on the hook for billions of dollars because of mortgage-documentation problems it took on when it acquired Countrywide Financial in 2008. If what a BofA supervisor told the court turns out to be accurate, the bank might discover that millions of loans that it thought were transferred to trusts linked to mortgage-backed securities are actually still sitting on its books.

Full Story:
DailyFinance.com

Related Summaries