1. Bank of America Settles on Mortgage Securities
... hiring specialists to focus on high-risk loans and improve their methods for tracking whether the bank is following its own internal loan-servicing standards (Schwartz). Bank of America, JPMorgan Chase, Citigroup, and Wells Fargo suffer the most from bundling troubled home loans and selling them as ... sound investments. They will claim 40 percent of the industry's mortgage-related losses - $25 billion of that could belong to Bank of America, the most of any of the major banks. Prior to this settlement, Bank of America paid out or set aside approximately $17 billion. The ... it will se...
- Word Count: 793
- Approx Pages: 3
- Has Bibliography
- Grade Level: Undergraduate