TITLE

B of A Said Selling Some ARM Pools

PUB. DATE
November 2009
SOURCE
American Banker;11/3/2009, Vol. 174 Issue 199, p8
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports that Bank of America has begun to unload some of the holdings of nonperforming payment-option adjustable-rate mortgages (ARMs) it received when it bought Countrywide Financial Corp. in 2008. According to brokers and investors participating in the nonperforming-loans market, Bank of America has sold three or more pools of option ARMs, each within $10 million to $15 million.
ACCESSION #
44996214

 

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