1. Bank of America Settles on Mortgage Securities
... managers Pimco, Metropolitan Life and BlackRock, as well as the Federal Reserve Bank of New York. They hold a combined $100 billion in home loans from mortgage-backed securities from Bank of America, the nation's biggest bank by assets. The securities affected by the deal come from Countrywide Financial, the subprime mortgage lender whose practices have come to symbolize the excesses of the housing boom. Bank of America acquired Countrywide ... its redirecting investor attention away from the scandal and on to the bank's performance in the second half of the year (Schwartz). Bank of Ame...
- Word Count: 793
- Approx Pages: 3
- Has Bibliography
- Grade Level: Undergraduate