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: Mortgage Lender Implode-o-Meter

For Bank of America, crisis isn?t over

By Implode-Explode Heavy Industries

``The Charlotte, N.C.-based bank reported a disappointing $1.2 billion loss for the fourth quarter as worse-than-expected mortgage losses ? $4.1 billion to settle its account with Fannie Mae and Freddie Mac and $2 billion in additional write-downs tied to the business. See full story on B. of A. results... through its ill-fated acquisition of Countrywide Financial, B. of A. remains essentially a mortgage bank and not a very healthy one.''

Full post as published by Mortgage Lender Implode-o-Meter on January 21, 2011 (boomark / email).