Linda DeMartini

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

Dec 06, 2010By

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.