Bank of America has been the poster-boy for post-crisis mortgage headaches, and its stock has been a total dog fo most of the year.
Now: More problems in the form of a brand new investigation into mortgage securitization and foreclosures.
According to HuffPo's Shahien Nasiripour, New York AG Eric Schneiderman is looking at the bank, and potentially thousands of mortgage securities and related foreclosures.
Details of this specific investigation are somewhat scare -- its in its early weeks -- but everyone is familiar with the broad contours of the problem here. There are all kinds of questions over whether the proper legal processes were undertaken, at every step of the process.
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See Also:
- The Full Story On Layoff Plans At Goldman, JP Morgan, BofA
- Obama Cuts Off JPMorgan, BofA And Wells Fargo From Receiving Millions In Fees From Huge Foreclosure Program
- Bank Of America Is Shutting Down Merrill's Bond Prop Trading Desk
Full story at http://feedproxy.google.com/~r/businessinsider/~3/UHGzULwgtM4/new-york-attorney-general-investigating-bank-of-america-2011-6
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