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