Bank of America (BAC) might turn a profit on a repurchase of $330 million in mortgages from Freddie Mac, according to Bloomberg News.
Jody Shenn writes Bank of America could pool the loans again after completes manual appraisals, Freddie could “accept the debt while charging higher guarantee fees” or the bank could sell some of the loans to other companies.
Investors might lose $20 million, according to an analyst with Credit Suisse (CS).
Read more at Bloomberg.
