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