"Bank of America's housing hole could be $27 billion deeper, according to analyst John McDonald of Sanford C. Bernstein.
McDonald's team of researchers on Monday released a research note explaining how BofA could post up to $27 billion in housing losses between now and 2013, according to a Bloomberg article. That's in addition to the $46 billion in housing-related losses the bank has already suffered.
"The process of addressing legacy mortgage issues will be long and arduous," the analysts said, according to Bloomberg. "Recent declines in home prices and an uptick in employment trends create an upward bias to our loss estimates" for the lender".......................LINK
No comments:
Post a Comment