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Loan Modification

: Mortgage Lender Implode-o-Meter

BofA Bolsters Compliance After $10.7 Billion Error

By Implode-Explode Heavy Industries

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"Bank of America Corp is beefing up its internal accounting controls after it incorrectly classified as much as $10.7 billion in short-term lending and repurchase deals for mortgage securities as sales, according to a letter filed on Friday with U.S. securities regulators."

Full post as published by Mortgage Lender Implode-o-Meter on July 10, 2010 (boomark / email).

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