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WI Biker

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WI Biker

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Thursday, 03/10/2011 1:45:20 PM

Thursday, March 10, 2011 1:45:20 PM

Post# of 13844
BofA Segregates Almost Half of its Mortgages Into ‘Bad Bank’

"Bank of America Corp. (BAC), the biggest U.S. lender by assets, is segregating almost half its 13.9 million mortgages into a “bad” bank comprised of its riskiest and worst-performing “legacy” loans, said Terry Laughlin, who is running the new unit. "

http://www.bloomberg.com/news/2011-03-08/bofa-segregates-almost-half-its-mortgages-into-bad-bank-under-laughlin.html

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