Bankruptcy

BofA, the MBS unwind, and the other side of the coin 

The newest fight in the mess that is now the U.S. foreclosure process is a real doozy. It’s the idea that securitization trusts may not actually own their own mortgages, and therefore have no standing to foreclose. A recent case involving Bank of America [stock BAC][/stock] in a New Jersey bankruptcy lit the most recent fire, after reporter Kate Berry at American Banker first reported on a ruling in the case on Nov. 22.