BofA Takes Out Lows As Sheila Bair Says Servicers’ Issues Could Be “Very Damaging”, “More Problems” To Arise In Mortgage Servicing

Monday, October 25, 2010
By Paul Martin

by Tyler Durden
ZeroHedge.com
10/25/2010

Finally the FDIC acknowledges the shitshow:

•BAIR: LITIGATION FROM SERVICER ISSUES COULD BE `VERY DAMAGING’
•BAIR SAYS FORECLOSURE PROBLEMS WILL REQUIRE `GLOBAL SOLUTION’

•BAIR: CRISIS REQUIRES `DECISIVE’ ACTION FOR MORTGAGE SYSTEM
•BAIR: FDIC SECURITIZATION RULES `CONSISTENT’ WITH DODD-FRANK
And the kicker:

•BAIR SAYS CRISIS REVEALED `CRITICAL FLAWS’ IN MORTGAGE FINANCE

The Rest…HERE

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